Bloomberg analyst questions banks' concerns about stablecoin yields

Bloomberg ETF analyst James Seyfart stated on social media that banks' concerns about stablecoin yields are puzzling. There are already many high-yield savings accounts on the market with a yield of 3% or even higher, such as Betterment、Marcus/Goldman、CIT、SoFi、AmEx、Wealthfront Wait, these accounts can also bring pressure to deposits with yields below 0%, similar to the impact on stablecoin yields.