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Coinbase CEO Brian Armstrong: USDC rewards are legally distinct from bank interest, derived from short-term U.S. Treasuries, and criticizes major banks for restricting competition.
Armstrong, in a September 19 interview with MoneyRehabPodcast, clarified that Coinbase does not issue stablecoins or engage in fractional-reserve lending, with stablecoin issuers maintaining full reserves. He also criticized some major banks for allegedly using government intervention to restrict competition, addressing questions on whether Coinbase should face bank capital and liquidity requirements.
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ZEC (Zcash) is up 6.26% over the past 4 hours, currently trading at $1,330.13.
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