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USDC stablecoin and US bank deposits both grew about 5% over six months, debunking deposit erosion fears

Market News
16 Jul 2026
Crypto Briefing
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Bullish
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Coinbase's chief policy officer Faryar Shirzad presented data showing that USDC stablecoin supply and US bank demand deposits both increased by roughly 4.5-5% over six months, indicating they are growing together rather than competing. This challenges the banking industry's claim that stablecoins drain deposits from traditional banks, especially community banks, which appear unaffected. Coinbase benefits financially from USDC growth, as it earns revenue from USDC held on its platform and promotes its use in payments and direct deposits. For investors, USDC's expanding circulation, now about $75 billion, represents significant revenue potential for Coinbase amid growing stablecoin adoption in regulated markets.

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Others
Neutral
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Coca-Cola halts Fairlife dairy production after ransomware attack disrupts US operations

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