TETHER CO-FOUNDER WILLIAM QUIGLEY SAYS BANKS ACCIDENTALLY CREATED THEIR OWN STABLECOIN PROBLEM
The irony is that banks made crypto harder to access, then complained about the alternative that emerged:
- Stablecoins make it easier to move between fiat and crypto exposure without relying on banks
- Banks pushed users away by shutting down accounts or flagging crypto-related transfers
- Quigley says banks now fear stablecoin yield because depositors may leave accounts that pay them little or nothing