Coin Bureau's Guy exposes how Jamie Dimon, CEO of JPMorgan Chase, is waging a public war against the Clarity Act while his own bank builds the exact same products behind closed doors.
Key Points
Key Highlights:
- Dimon called Coinbase's CEO "full of it" on live TV, warning yield bearing stablecoins would drain deposits and destabilize the financial system
- The ABA flooded the Senate with 8,000 letters claiming the bill would wipe out $850 billion in community bank lending, dressing up self interest as consumer protection
- JP Morgan quietly launched its own deposit token JPMD on Base, a tokenized money market fund, and filed for a second tokenized Treasury product, all in the same months Dimon was attacking these ideas publicly
- The White House calculated that banning stablecoin yield would increase bank lending by just 0.02%, exposing the lending argument as a smokescreen
- Clarity Act odds have fallen from 82% to 59% since February, with Senator Lumis warning the window may not reopen until 2030 if it fails
Takeaway JP Morgan pays depositors almost nothing on $2.68 trillion in deposits while Coinbase pays 3.5% on USDC. Dimon is not protecting the system. He is protecting the cheap funding model that powers his entire bank.
