Could spell disaster for fucking morons who want a bank to custody their bitcoin. I hope they do fractionally reserve and rehypothecate. I look forward to learning how I can earn 20% on my bitcoin by lending it to Citibank.
Gtfoh
The SEC has repealed SAB 121, opening the door for banks to custody #Bitcoin. While this sounds like progress, the risk of fractional reserves & rehypothecation could spell disaster.
Congress must act NOW to protect BTC’s integrity.
Full read here: https://egodeath.capital/blog/too-big-to-fail-banks-amp-bitcoin-custody
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