Stablecoins Hit $284B – Are Banks Really at Risk? Analysts Weigh In

Stablecoins have topped $284B in circulation, with USDT and USDC over 90% of supply. Banks have warned that reward programs could draw deposits away, while Niall Ferguson and Manny Rincon-Cruz have said stablecoins resemble bank notes that historically grew alongside deposits, after U.S. GENIUS Act.