That is a hard NO from Jamie Dimon. Look, we get it. Banks pay you almost nothing on your deposits, then lend it out at 7, 8, 9 percent. That spread is their whole business model. So, when stablecoins come along offering actual returns, of course they are sweating.
But here is what nobody wants to say. It is our money. We put it there. So do we get a choice?
Because last time I checked, if someone offers you a better deal on your own money, you should probably be allowed to take it.