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Scott Melker (The Wolf Of All Streets)
Claim author · 📅 01.06.2026 · The Stablecoin Yield Battle Is Getting Ugl...
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"Jamie Dimon here is advocating basically to kill the Clarity Act or at least to fix the Clarity Act so it doesn't offer these yields, but what they're doing is actually going to kill it dead on arrival and they're going to be in a worse situation."

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The Genius Act bans issuers like Tether and Circle from allowing yield, but they don't then extend that to the second parties like Coinbase and the other exchanges. Right now, Coinbase has the best possible scenario. They can offer yield or rewards or whatever you want to call it to their customers just for holding USDC on the platform. So, Jamie Dimon here is advocating basically to kill the Clarity Act or at least to fix the Clarity Act so it doesn't offer these yields, but what they're doing is actually going to kill it dead on arrival and they're going to be in a worse situation.

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