@caitlinlong this was a solid quote….what would have made it solidly brilliant is if was posted on Nostr first. 😉 love your stuff and pulling for Custodia.

“When a bank w/ highly volatile deposits makes a levered investment in 10-year bonds into a Fed tightening cycle, what happens when a bank run hits is predictable—liquidate those bonds at a loss, impairing the bank’s capital. It’s an indictment against fractional-reserve banking”

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