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Replying to Avatar ODELL

Money Without Trust

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Bitcoin held in self custody is unique in its lack of counterparty risk, as global market chaos unwinds this will become much more obvious.

The four main banks of bitcoin and “crypto” are Signature, Prime Trust, Silvergate, and Silicon Valley Bank. Silvergate and SVB have already stopped withdrawals. More banks will go down before the chaos stops. None of them have sufficient reserves to meet withdrawals.

https://www.discreetlog.com/money-without-trust/

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CTarian 2y ago

If they were buying Treasuries when long term rates were really low, they'll be sitting on massive losses to principle right now.  If they used the Treasuries as collateral /margin for other investments, they're in trouble.

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