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Apollo Chief Economist: AI Agents May Lead to Bank Runs by Absorbing Savings

Jason Yanowitz, co-founder of Blockworks, shared insights from Apollo's chief economist: agents could trigger bank runs by consolidating household cash. The chief economist stated that agents could move household cash from accounts with a national average interest rate of 0.1% to accounts offering 3% to 5%, resulting in banks losing a significant portion of their cheap deposits.

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