U.S. President Trump holds $33.5M in $ETH and $18.52M in $BT | kyrpto Maverick on Binance Square

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U.S. President Trump holds $33.5M in $ETH and $18.52M in $BTC  on-chain.#TrumpNFT 
Its seem like more $ are coming to trump through these stable coins

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Ethereum’s price has slipped nearly 5% after hitting a new all-time high of $4,946 earlier today.#BTCWhalesMoveToETH $ETH

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US banks are indeed lobbying to block stablecoin interest, warning that it could trigger trillions of dollars in deposit outflows. The banks claim that allowing stablecoins to offer interest would create an uneven playing field, favoring crypto exchanges over traditional banks. *The Concerns:* - *Deposit Outflows*: Banks fear that if stablecoins offer attractive interest rates, customers might shift their deposits from banks to crypto exchanges, potentially leading to a significant outflow of funds. The US Treasury Department estimated that stablecoins offering yield could move as much as $6.6 trillion away from traditional banking systems. - *Credit Creation*: This reduction in deposits could undermine credit creation throughout the economy, leading to higher interest rates, fewer loans, and increased costs for households and businesses. *The Counterargument:* - *Crypto Industry Pushback*: Advocates argue that restricting exchanges from offering rewards to stablecoin holders would unfairly protect banks while limiting consumer choice. They contend that stablecoins bring innovation, efficiency, and more options to consumers. - *Competition and Innovation*: Crypto industry figures like Coinbase's chief legal officer, Paul Grewal, emphasize that the industry should be allowed to evolve without unnecessary restrictions. *The GENIUS Act:* - *Regulating Stablecoins*: The GENIUS Act, passed by the US Congress in July, aims to regulate the global $288 billion stablecoin market. The law prohibits issuers from paying interest or yield to customers, but allows crypto exchanges to indirectly offer interest and rewards to holders of third-party-issued stablecoins.

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🔥💡 Couldn't agree more! The crypto market's volatility is indeed brutal, but the potential for life-changing gains is what makes it beautiful. It's all about perspective and strategy. Legends are indeed made by accumulating during times of fear, and it's a mindset that separates the tourists from the true believers. 💪📈 Dear fellow crypto enthusiasts, I'm writing to you today as someone who's been through the highs and lows of the crypto market. I've seen friends get rekt, I've seen others get rich, and I've seen the market's unpredictability firsthand. But here's the thing: despite the volatility, despite the FUD, and despite the uncertainty, I still believe in crypto. I believe in its potential to change lives, to empower people, and to create a more decentralized future. If you're feeling discouraged or uncertain about your crypto journey, I want you to know that you're not alone. We've all been there. But I want to encourage you to keep holding on, to keep learning, and to keep believing. The market may be unpredictable, but one thing's for sure: the potential for growth and innovation is vast. So, let's stick together, support each other, and keep pushing forward. Stay strong, stay humble, and keep building. Best, Krypto Maverick

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