Bank lobby is ‘panicking’ about yield-bearing stablecoins — NYU professor

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America’s powerful banking lobby is “panicking” over the potential of stablecoins to disrupt their traditional business model, particularly when it comes to yield-bearing stablecoins, according to Austin Campbell, a New York University professor and founder of Zero Knowledge Consulting.

In a May 21 social media post that begins with, “The Empire Lobbies Back,” Campbell claimed that the banking industry is especially alarmed by the potential for stablecoins to offer interest or rewards to holders. 

In a pointed message aimed at Democratic…



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Bank lobby is ‘panicking’ about yield-bearing stablecoins — NYU professor


America’s powerful banking lobby is “panicking” over the potential of stablecoins to disrupt their traditional business model, particularly when it comes to yield-bearing stablecoins, according to Austin Campbell, a New York University professor and founder of Zero Knowledge Consulting.

In a May 21 social media post that begins with, “The Empire Lobbies Back,” Campbell claimed that the banking industry is especially alarmed by the potential for stablecoins to offer interest or rewards to holders. 

In a pointed message aimed at Democratic…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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