Hell, if they were bitcoin +ETH or whatever they’d get more flak for environmental issues, even if the securities issues are reduced.
Discussion
Even then, I would say that we hamstrung ourselves and made the environmental issues even easier to hit us over the head with, by taking the broad-based stance we did. I say this as someone who has been personally involved in a lot of this.
At least if they also support ETH the environmental argument is muddled, which I think has actually helped a lot over the past six months.
I think we can rebuild. But it’s going to be a tough slog. I am definitely deeply distressed by all this. But I am not dissuaded from the belief that we can recover.
Isn’t the FDIC just reimbursing the digital asset deposits?
Probably after liquidating everything in a fire sale?
Flagstar Bank's bid did not include approximately $4 billion of deposits related to the former Signature Bank's digital-assets banking business. The FDIC will provide these deposits directly to customers whose accounts are associated with the digital-asset banking businesses. Questions may be directed to (866) 744-5463.
The thing that dispirits me is those who laugh this situation off as irrelevant to bitcoin. The belief that fiat liquidity does not matter at all to bitcoin’s utility, when the dollar remains bitcoin’s unit of account, and the presence of deep liquidity markets actually lowers the risk of holding bitcoin, which in turn, makes utility uptake in bitcoin payments easier — is an endlessly frustrating attitude I see within the bitcoin world. People laugh this situation off at their own peril.