[Stanley]

Coinbase says stablecoins not draining bank deposits, calls it a ‘myth’




Coinbase rejected claims that stablecoins drain US bank deposits, arguing most activity happens overseas and boosts the US dollar’s global strength.



https://cointelegraph.com/news/coinbase-...er_inbound

[The Pact]

Rather than draining U.S. bank deposits, Coinbase claims stablecoins increase demand for the U.S. dollar, reinforcing its role as the global reserve currency extending dollar influence without relying on traditional banking infrastructure.

Some regulators and economists worry that stablecoins, especially dollar-backed ones could pull deposits away from banks, reducing lending capacity.

[Hackers]

I'd love to know how many of the stablecoins that have a peg are ACTUALLY backed up with real USD. I know a lot of them in the past have had sliding % for risk, and they didn't always back it up with real dollars. Instead they may hold another crypto and assign a $ value, and this is where things can get extremely rough in a bear if they fuck up their numbers.