Citi Executive Warns Stablecoin Interest Payments Could Drain Bank Deposits Like the 1980s Crisis
Citigroup’s Ronit Ghose warned that stablecoin curiosity funds might set off Eighties-style deposit flight from conventional banks. In accordance with a Financial Times report, Ghose drew parallels to the late Seventies and early Eighties when cash market funds skyrocketed from $4 billion to $235 billion in seven years, draining deposits from banks whose deposit charges…
