Fed: US bank deposits rise to $19.693 trillion last week

The deposit build is the quiet counterpoint to the crypto market's stablecoin narrative: money is still moving into the regulated banking system, not out of it, even as tokenized cash products compete for the same liquidity. For RWA and stablecoin issuers, that matters because the marginal dollar parked in a bank account is a dollar not parked on-chain. Whether this reflects caution, rate-seeking, or simply seasonal flows is the open question, and it is worth watching whether the trend persists once the next reporting week lands.