I wrote this about banks:
Just a reminder
Many Banks, like FTX, do not have the deposits they say they do.
This is the heads up you wish you had pre-FTX
We went from Banks not wanting bitcoin companies as customers to bitcoin companies not wanting to use banks
I wouldn't go that far...
Saw a bunch of jpeg bros on twitter confused about how orphaned blocks work.
They thought bitcoin broke and they were the geniuses who "caught it".
Everyone in crypto have become Swiss Bank experts
If only there was a way to stop our government from engaging in corporate grift through fiat ponzis; putting self interest over the interest of those they govern...
We now go into an era of high inflation and zombie banks.
-Banks that should fail will survive, and look like the airline industry. No need for efficiency or good customer service.
-Fed balance sheet grows to support inefficient banks, taxing us all through inflation.
Bitcoin is the Way
All US residents were taxed to bail out the banks. Not through a traditional "tax" that only the middle class and rich bear the brunt of.
The tax was through the inflation that is being created through the $300B in loans added to the Fed's balance sheet in the last week...
Something I wrote a few years ago:
If you are afraid of your company getting stuck with First Republic or Signature, DM me.
If you are stuck at SVB or Silvergate, too late, don't bother.
Many thanks to you, I read a post by you to sell USDC several weeks ago and I did it, appreciate it.
Here to help
There are no victims of SVB, Silvergate, FTX, USDC and more to come.
Trust was put in fiat ponzis, when there were clear alternatives.
Time to wake up and smell the Bitcoin...
Four Roses also for cocktails
I'm hearing from people that circle is now throttling on-chain transfers of USDC - estimating 48 hours. I remember hearing reports of Celsius doing the same days before they imploded...
Time to get put of that USDC shitcoin and into bitcoin.
Just verified with the CEO of Bitcoin; the network still running like clockwork/no throttles.
Everyone's pointing their fingers at Tether; meanwhile, back at the ranch, looks like USDC not looking so hot.
Thats the problem with an unregulated money market mutual fund: not all those deposits sitting in proper custody.
Seriously, zaps are more powerful than likes.
Humbled by the number of zaps I get.
Sorry to say I don't stack those sats; I send the love around through zapping others and supporting bitcoin businesses like Bitcoin Park
Public service announcement:
Not your keys, not your cheese.
If you know how to mange your own bitcoin, time to do it...