Bank accounts are not scams. They don't deceive anyone about the returns. They are not long-term investments they are a place to park your liquid assets (cash) so you can use it to pay your bills. It is a place to accumulate funds so you can later move them to an investment account. You need one so that you can get your direct deposits.

I fear that a stable coin that promises 8% ish returns is likely to go belly up in a crisis. What happens if the people they lend money to go bankrupt? Who does Gemini lend to? I would want to know before I buy their coin. I would need to see a financial statement, just like if I was buying a stock. I don't care who my bank lends too because my money is covered by the FDIC.

TEK