GM Nostr

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The repeal of Staff accounting Bulletin No. 121 (SAB 121) which allows big banks to custody “crypto” and bitcoin brings Euphoric landscape of innovation and technology weaved into TradeFi.

Here’s the problem: TradeFi will TradeFi with their fractional reserve practices. Period. And just look at FTX, BlockFi, and Genesis from just. Few years ago.

It’s up to us, bitcoiners to tell our newly minted orange pilled buddies to stay away from these these big banks with their bitcoin/crypto.

Point them to Unchained Capital and Hodl Hodl. Two custodians I use and trust. They have pioneered bitcoin lending and understand the importance of LTV management during bear and bull cycles.

Remember, banks can’t print more bitcoin like fiat when they rehypothecate your hard earned bitcoin. They’re going to get rektd. They will “fuck around and find out” which will only hurt the retail investors.

This game is for Wall Street and their lobby hungry, power thirst, greed having cronies.

Be safe out there. Bitcoin and bitcoin only.