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News Explorer — Bank of America CEO Warns of $6 Trillion Shift From Bank Deposits to Stablecoins

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Jan 15, 3:00 pm
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Bank of America CEO Warns of $6 Trillion Shift From Bank Deposits to Stablecoins

Bank of America's CEO predicts that interest-bearing stablecoins could divert $6 trillion from bank deposits, potentially impacting small-to-medium-sized businesses. The proposed Senate Banking draft would restrict stablecoins from earning interest, affecting lending capacity in the traditional banking system.

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