[Coinbase Policy Head: Stablecoins Are a Powerful Tool to Enhance Overall Dollar Demand and Modernize the Payment System, Not a Threat to Banks] According to a report by Jinse Finance, Coinbase's policy head, Faryar Shirzad, posted on the X platform, expressing gratitude to Stephen Gandel for his insightful perspective published in Reuters. He pointed out that the arguments made by the U.S. banking industry against stablecoins are unfounded. One key point to emphasize: the $6.6 trillion mentioned in the banking industry's TBAC report actually represents the total deposit balance of all U.S. bank transaction accounts, not the actual potential scale of deposit outflows. In fact, the same TBAC report predicts that by 2030, the total circulation of stablecoins will only reach $2 trillion. Moreover, historically, bank deposits have shown strong stability. Investors do not frequently transfer funds solely in pursuit of returns, even within the traditional financial system. This is also why banks can almost avoid paying interest to depositors. Additionally, the vast majority of stablecoins are currently held overseas, and the significant demand for stablecoins related to the 'GENIUS Act' is also likely to come from overseas markets. In summary: Stablecoins are a powerful tool to enhance overall dollar demand, modernize the payment system, and provide consumers with more choices, rather than a threat to the banking industry.