BofA CEO warns $6T in deposits may shift to stablecoins; Jan. 9 draft curbs yields

On the bank's Wednesday earnings call, Bank of America CEO Brian Moynihan warned that as much as $6 trillion, or roughly 30%–35% of U.S. commercial bank deposits, could move into stablecoins under certain regulatory outcomes. A Jan. 9 Senate Banking Committee draft would bar passive interest on stablecoin balances while allowing activity-based rewards, and the planned markup was later postponed.