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Bitwise’s investment chief Matthew Hougan argues that US banks should increase deposit interest rates to compete with stablecoins rather than complain about the threat to their profits. He suggests that banks have long exploited depositors as a free source of capital. This stance highlights growing tensions between traditional banking and decentralized finance.
- Banks should increase deposit interest rates to effectively compete with stablecoins rather than resist them.
- Hougan claims banks have abused depositors by using their funds as free capital for decades.
- The statement underscores the competitive challenge stablecoins pose to traditional banking profitability.
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