Janet Yellen wants to raise the debt ceiling to combat economic collapse due to debt default.
Since May 26th, 2020, US banks have had a 0% reserve requirement.
Knock, knock. Jamie are you there? The court would like to see your Epstein related records.
?cid=2154d3d7tyrirw1kqayuna1l66yrowc4kwdejednn606x4wn&rid=giphy.gif&ct=gHere's some sats for your wallet ⚡💜
Assets: $124 billion on the FDIC's balance sheet and a $100 billion dollar line of credit from the US Treasury.
Liabilities: $22 trillion in the US banking system.
The FDIC can only cover 1.26% of deposits, or about as much as one Silicon Valley Bank.
Source: https://www.fdic.gov/news/speeches/2020/spaug2520.html
Coinbase has halted USDC/USD trades over the weekend.
SVB bank run in real time. 🏦🏃
Eat popcorn, stack sats 🍿⚡💜
How's Dai holding up? Isn't it mostly backed by USDC?