Bank Lobby Fears Stablecoins Will Disrupt Traditional Business Model

The banking industry is experiencing growing anxiety over the potential disruptive impact of yield-bearing stablecoins. This concern stems from their ability to compete with traditional banks by offering interest or rewards to holders, according to Austin Campbell, a professor at New York University and founder of Zero Knowledge Consulting. Campbell’s recent social media post, titled ‘The Empire Lobbies Back’, highlights this sentiment.