Alex Thorn talks to Omid Malekan, blockchain professor at Columbia Business School, about stablecoins and the CLARITY Act. Alex and Omid discuss the bank lobby’s current negotiating position and argue that the fears of deposit flight or a negative impact on credit creation by yield-bearing stablecoins are overblown at best and disingenuous at worst. Alex also talks to Galaxy Trading’s Beimnet Abebe about bitcoin markets, macro conditions, and geopolitical concerns.

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This episode was recorded on Wednesday, February 18, 2026.

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The Banks are Wrong on Stablecoin Yield with Omid Malekan

Galaxy Brains

Banks' net interest margins and where deposits go

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