The American banks scored a spectacular own goal today.
In lobbying aggressively to suppress stablecoin yield, they have inadvertently pushed capital towards Bitcoin backed fixed income products that offer yields they cannot compete with.
The Clarity Act passed the Senate Banking Committee today. 15-9.
The most contentious issue was stablecoin yield. The American Bankers Association reportedly contacted Senate offices more than 8,000 times in a single weekend to gut the compromise language.
Why?
Because yield-bearing stablecoins compete directly with bank deposits. They want to keep paying you 0.1% while earning 4% on your money.
The compromise bans passive yield on simply holding stablecoins but allows activity-based rewards. The banks won that battle.
However, they will not have the last laugh.
By suppressing yield on stablecoins, they have pointed millions of people toward $STRC and $SATA. 11.5% and 13% yield respectively.
Bi-monthly and daily dividends, backed by the hardest asset ever created.
The banks won the battle but have no idea they are losing the war.
This 30-min workshop by the creator of Claude Code will teach you more about vibe-coding than 100 YouTube video guides.
Bookmark it & give it 30 minutes today. This video will change the way you use Claude forever.
Introducing Based Lime, the official collab drink between @RektDrinks x @Base.
Based Lime will be available as a limited edition:
- Online (worldwide)
- Select @Base IRL events
- Select @Coinbase offices
Coming soon.
Now that the budget bill has passed Congress, we can see what the projections look like for deficits, government debt, and debt service expenses. In brief, the bill is expected to lead to spending of about $7 trillion a year with inflows of about $5 trillion a year, so the debt, which is now about 6x of the money taken in, 100 percent of GDP, and about $230,000 per American family, will rise over ten years to about 7.5x the money taken in, 130 percent of GDP, and $425,000 per family. That will increase interest and principal payments on the debt from about $10 trillion ($1 trillion in interest, $9 trillion in principal) to about $18 trillion (of which $2 trillion is interest payments), which will lead to either a big squeezing out (and cutting off) of spending and/or unimaginable tax increases, or a lot of printing and devaluing of money and pushing interest rates to unattractively low levels. This printing and devaluing is not good for those holding bonds as a storehold of wealth, and what’s bad for bonds and US credit markets is bad for everyone because the US Treasury market is the backbone of all capital markets, which are the backbones of our economic and social conditions. Unless this path is soon rectified to bring the budget deficit from roughly 7% of GDP to about 3% by making adjustments to spending, taxes, and interest rates, big, painful disruptions will likely occur.
.@internetarchive is using Filecoin to store historical records, cultural artifacts, and public data in a decentralized way. This reduces reliance on centralized storage and helps protect critical information from loss or censorship. Check out the infographic to learn more.
The Democratic Party still doesn’t realize how many Americans they have alienated with their shady, ironically UNDEMOCRATIC tactics.
Against the wishes of their electorate, they stopped Bernie from being the candidate several years ago, then trashed RFK very unfairly and then switched Kamala for Biden without even holding a primary!
Now they are relentlessly trashing @DOGE, which is just trying to stop fraud, waste and abuse of your taxpayer dollars and report back to the public with maximum transparency! It’s messed up.
You say AI is dead. Yet @ErikVoorhees just launched $VVV on Base and it ran to $500M FDV in 15 minutes.
Its basically a DeepSeek client that allows you to access the terminal in an unrestricted way without sharing your information or data with the CCP.
Need to dig in.