Kraken co-CEO Dave Ripley has countered claims by Brooke Ybarra of the American Bankers Association that stablecoin yields negatively impact banks. Ripley emphasized the importance of consumer choice in earning interest on assets outside traditional banking systems. He criticized banks for imposing fees without offering returns, asserting that the crypto industry is working towards a more equitable financial system. Dan Spuller from the Blockchain Association supported Ripley's stance, suggesting that traditional banks are attempting to stifle competition from platforms like Coinbase and Kraken.