Investment Partner, @a16z Frontier, @nlevine19 explains why banks' stablecoin deposit-flight fear is overblown⁣ ⁣ "The concern from banks is that if you can just passively hold USDC on Coinbase and get yield, do we start seeing a significant amount of deposit flight."⁣ ⁣ "We've seen examples historically where there are yield products in the market, things like money market funds, which banks similarly were worried about leading to deposit flight."⁣ ⁣ "Despite things like money market funds existing, deposits have increased."⁣ ⁣ "A lot of the use cases where you're holding stablecoins are related to trading and crypto capital markets, doesn't really align with the core customers of, say, community banks."⁣ ⁣ "I don't think banks should be as worried as maybe they're initially setting out to be, and ultimately it'll blow over over time."⁣ ⁣ Money market funds raised the same fear decades ago, and bank deposits kept climbing regardless.⁣ ⁣ 🎙 Listen to the latest episode on Tokenizedpod(dot)com

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