NYT'S “BANK DEPOSIT VS STABLECOIN WALLET” GRAPHIC BACKLASH

Summary from the TLDR Crypto newsletter

A New York Times infographic contrasts bank deposits (insured, interest-bearing, with legal rights) against stablecoin balances (uninsured, issuer keeps yield, weaker legal claims). However, this is a stacked comparison as banks historically share very little of the yield they earn, many countries have weak or no deposit insurance, and large depositors are just unsecured creditors of leveraged banks. In crypto, users can move stablecoins into DeFi or tokenized T-bill products to capture much higher yields directly, and self-custody avoids many of the freezes and capital controls that can hit bank accounts.