$317B in stablecoin float is still small against the ABA’s $20.1T deposit base, and the White House CEA put the baseline lending gain from banning stablecoin yield at just $2.1B, or 0.02%. If CLARITY keeps the idle-balance ban but preserves activity rewards, the money just migrates into Coinbase membership rebates, card-spend incentives, Sky/sUSDS, Ethena USDe, and offshore wrappers. Banks may win the “no savings account in disguise” language, but they’re also teaching every normie that their checking yield is a policy choice, not a law of nature.

Top comment by @Benthic