Coinbase published a comprehensive defense against banking industry claims that stablecoins threaten traditional financial stability, arguing the “deposit erosion” narrative is a “myth” designed to protect banks’ $187 billion annual payment processing monopoly. The exchange released research titled “Beyond the Deposit Debate,” challenging Treasury estimates of $6 trillion in potential deposit outflows from yield-bearing stablecoins. Research Challenges Banking Industry’s Deposit Flight Claims The defens ...