GENIUS Act: $6.6 Trillion in Deposits Could Flow Out of Banks

A new regulatory framework, the GENIUS Act, has stirred a significant shift in the financial landscape. Co-founder and managing partner at Multicoin Capital, Tushar Jain, predicts this law will trigger a massive exodus from traditional savings accounts into high-yield stablecoins, potentially exceeding $6.6 trillion. The act’s impact is already being debated as experts worry about banks losing deposits and facing increased competition from tech giants.