Most bitcoin exchanges have exposure to these banks that are failing.
Withdraw any bitcoin you have on exchanges ASAP.
Simple self custody guide: https://werunbtc.com/muun
More secure cold storage guide: https://werunbtc.com/coldcard
Discussion
YES
Yes.
Which banks are in trouble at the moment?
The four main banks of bitcoin and “crypto” are Silvergate, Signature, Prime Trust, and Silicon Valley Bank.
Silvergate and SVB have already stopped withdrawals and are going through liquidation. More banks will go down here. None of them have sufficient reserves to meet withdrawals.
Where should people be buying bitcoin so they don’t get trapped in a failing exchange before they can withdraw it?
peer to peer - try bisq or peach
Thanks for the reminder! Just withdrew my DCA balance from prime trust 💜
I remove on a regular basis to my cold storage. But seeing this has prompted me to make today transfer day.
Really grateful 🤙💯
Agreed. However, River financial (BTC only) is not exposed— they don’t use prime trust 🙏
Your post is getting a lot of likes and reposts.
Added to the https://member.cash/hot feed
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Why does everytime i try to download the Muun app wallet always tells me it can not connect?
I think i tried it 3-4 times still has not problem,
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Was it muun that is actually doing a swap for its lightning support behind the scenes?