💥 Gate Square Event: #PostToWinPORTALS# 💥
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📅 Event Period: Sept 18, 2025, 18:00 – Sept 25, 2025, 24:00 (UTC+8)
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Alpha Trading Competition: Join for a chance to win rewards
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Launchpool: Stake GT to earn PORTALS
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The CEO of the trading platform refutes the bank's claims about stablecoin risks, stating that it aims to protect $180 billion in payment revenue.
[BitPush] According to reports, the CEO of a certain exchange recently stated in Congress that the banking industry is creating "false threats" by opposing the practice of cryptocurrency exchanges offering stablecoin rewards under the pretext of systemic risk. Currently, the platform offers a 4.1% reward to USDC holders, while the banking industry is concerned that this may lead to a significant amount of deposits flowing into stablecoins. The U.S. Treasury's Borrowing Advisory Committee estimates that deposits could shift to stablecoins by as much as $6.6 trillion.
The CEO believes that the real intention of the banking industry is to protect its $180 billion payment business revenue. In response, Wyoming Republican Senator Cynthia Lummis stated that the issue has been addressed in the GENIUS Act and should not be revisited.