Scott Melker: Debate over yield on USD balances intensifies between banks and tech firms

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9 hours ago

Scott Melker: Debate over yield on USD balances intensifies between banks and tech firms — Banks face new USD yield competition

Scott Melker, owner and content creator, highlights growing tension between traditional banks and technology companies regarding yield payments on USD balances.

Melker points out that while banks and their lobbyists are fighting to prevent stablecoins from offering yield, a major social media app has begun offering 6 percent on USD balances without using crypto infrastructure. He questions the lack of public outcry given the similarities between these offerings, noting only the wrapper has changed.

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Melker has previously commented on market volatility following Strategy's minor Bitcoin sale and Mt. Gox wallet movements, noting panic selling in crypto markets in a recent article. He also reported on JPMorgan raising its S&P 500 year-end target to 7,800 due to strong AI-driven earnings and reduced geopolitical concerns, according to his earlier coverage. These updates come as the debate around yield payments on USD balances intensifies.

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