Chase Pays 0.01% on Savings. Coinbase Pays 3.5% on USDC. Here's Why That Gap Is Terrifying Banks.
Chase Pays 0.01% on Savings. Coinbase Pays 3.5% on USDC. Here’s Why That Gap Is Terrifying Banks. TL;DR Traditional banks like Chase are offering depositors a near-invisible 0.01% interest rate on savings accounts, while crypto platforms like Coinbase are offering 3.5% on USDC stablecoin holdings — a gap of 350x. The contrast is so stark that Bank of America’s own CEO has acknowledged the threat, warning that as much as $6 trillion in deposits could migrate toward stablecoins as a result. This isn’t a niche crypto conversation anymore. It’s a mainstream financial system stress test happening in real time, and the Reddit community is paying close attention. ...