Coinbase CEO’s Crypto Crusade: Stablecoin Interests Over Banks! 🚀👀

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Oh, the audacity of Brian Armstrong, the grand marshal of the crypto exchange Coinbase, who dares to suggest that the almighty U.S. government should permit the mere mortals of the digital realm to earn interest on their stablecoins. 🤑✨

In his latest proclamation, akin to a town crier’s call, Brian Armstrong champions the cause for stablecoins to not only coexist with the banking overlords but also to offer interest to the common folk. “This is consistent with a free market approach,” he declares, as if whispering sweet nothings into the ears of liberty itself. 🎩📜

— Brian Armstrong (@brian_armstrong) March 31, 2025

The audacious critique from the Coinbase CEO surfaces as the U.S. lawmakers, in their infinite wisdom, ponder the creation of stablecoin decrees. These decrees, as oppressive as a corset at a feast, would force stablecoin issuers to bow down to the Bank Secrecy Act (BSA), transforming them from crypto-friendly rebels into law-abiding scribes. 👩‍⚖️📚

“Stablecoins have already found product market fit by digitizing the dollar and other fiat currencies, but we haven’t unlocked a critical piece of the puzzle for the average person, and the US economy, to reap the full benefits: onchain interest,” Armstrong proclaims, with the fervor of a man who has seen the promised land. 🏞️🔑

As he unfurls the scroll of truth, Armstrong reveals that in the year of 2024, the average FED funds rate was a robust 4.75%, while the average consumer saving account yield was a measly 0.41%. With inflation nibbling away at the purse strings, consumers suffered a loss of 2.5% in purchasing power. 🛍️🔥

Imagine, dear reader, holding stablecoins and receiving a princely 4% instead of the paltry 0.1% offered by saving accounts. It’s like finding a ducat in a loaf of bread! 🥖💰

“We have a huge opportunity in front of us right now with a pro-crypto administration and congress actively working on new stablecoin legislation..” he said, with the optimism of a man who believes the stars themselves are aligned in favor of crypto. “We can choose to level the playing field and ensure these laws pave a way for all regulated stablecoins to deliver interest directly to consumers, the same way a savings or checking account can.”

And lo, the stablecoin market cap, according to DeFillama’s meticulous ledgers, stands at a valuation of $234.46 billion – a figure that has swelled by 4.52% in the past 30 days. 📈💼

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2025-04-01 14:29