BANK

Classic_Ad3154

Nuff Respect! If Your money is in Chase Bank but you can't spend or risk Your money as You see fit. CLOSE YOU CHASE ACCOUNT AND TELL THEM WHY IN WRITING! DEFUND CHASE BANK! DEFUND ANY AND EVERY BANK THAT TRIES TO CONTROL WHAT RISK YOU TAKE; WHILE HAVING YOUR MONEY IN THEIR ACCOUNT IS ACTUALLY A RISK THAT YOU TAKE! DEFUND CHASE BANK!

TarkovRedditor

Bloomberg Terminal: KRAKEN: RECEIVED AUTHORIZATION FROM CENTRAL BANK OF IRELAND AS AN E-MONEY INSTITUTION

Elegant_Tale_3929

Right, but because they are a BUSINESS and not a BANK there is a limitation on reclaiming that money. I believe it's around 6 months or so after that it gets a bit iffy in the US, at least, and their eligibility to reclaim that money. Australia might be different though.

teh_d3ac0n

Really awful way to learn you can't trust someone that his surname is a combination from the words BANK and MAN. ​ Banksters in disguise.

atict

This isn't sitting on their balance sheet it means nothing. BANK HOLDS BILLIONS OF DOLLARS sounds dumb. Before some nut fuck says its an exchange and people shouldnt treat it like a bank lets live in reality people do and will continue to. Not only that it will be the go to for institutions to have a company like Coinbase or Galaxy custody their BTC.

Agree-Refuse-69

And THIS is how you DESTROY CENTRAL BANK SCAMMERS' holds on your country ​ bravo The government controlled by IMF and CenBanks can LARP all it wants but PEOPLE set the REAL MARKET RATE

No-Tackle-8652

It definitely needs it scalability. Every app on Cardano shits the bed whenever there's a highly anticipated launch or meme coin. Recent examples are SNEK / BANK / whatever that options token was on Muesliswap.

ra246

Opening up to the masses, but these boys gonna make **BANK** from people with these fees.

maynardstaint

Correct. All these things exist today and use 50-60 year old tech. But If you EVER want them to be better that have to be updated. What do you think ISO 20022 was about? Making sure EVERY BANK uses the same messaging protocol so they can all be attached to one another in the future. You know who does that? ONLY ripple and stellar. You’re not correct that banks don’t “NEED” blockchain. Banks are NOT directly connected to one another. The EU has created a central Hub via Sepa. But sepa itself is utilizing tech. Most likely a dlt crypto protocol. Just like fednow in the US utilizes the xrp ledger and other dlts to organize liquidity. Before email, there were business opportunities that were not possible. It would take too long to physically mail the invoice to remote places. As well as getting cheques to those companies. But once email was available, you could speak to some one nearly instantly. This allows even more globalization of industry and sales. And now the main thing holding back out worldwide economies is the speed of money. Banks don’t have more money to lend. That have to keep a certain amount of reserves. The ONLY WAY for banks to speed up money is to STOP letting it sit for days in one transaction. If those transactions speed up, they can make several per day with the same money. Allowing them to earn that transfer fee multiple times per day, instead of twice a week. You can’t say that you DONT NEED CRYPTO just because YOUR very narrow usage doesn’t include it today. Because you rely on that company for your transfers, and that company relies on blockchain. Even if they don’t use it for your VERY SMALL use case.

kakashihokage

They mean send it to a fresh wallet that you own first, but they will still require kyc, I've been saying this for 7 years now. We MUST have coins that are private, this is how govt is trying to kill crypto, with kyc. First in the us they killed P2P saying you have to be a money transmitter. I'd kill for a localbitcoins.com like we used to have omg you guys have no idea how sweet crypto used to be... Now they start demanding every single "broker" (which includes online wallets!!!) Has to gather kyc and has to send in a report to the IRS on who you are and exactly how much money you have!!! Scre this crap crypto was supposed to free us from the banksters this is NO DIFFERENT THAN A BANK!!! They will be able to sieze at fiat on/off ramps. Now you have coins that are not as good as other coins because you have to try and wash them if you don't buy your coins on a pre approved exchange, your coins could have come from a hack or a dark market and who's to say govt won't just start taking those within a certain amt of hops, maybe you get investigated and audited for having coins too close to "bad" coins. The fungibility issue is absolutely destroying crypto. We need fully private and fully decentalized exchanges. Why don't people understand how important this is? Every ounce of our development efforts need to be poured into developing privacy tech. Find a way to have private chains that work and keep chain bloat down, I don't see a problem with a periodic pruning of the chain though myself. Whether people like it or not, without truely private coins and the ability to SPEND THEM like cash then crypto solves nothing but being a faster SWIFT.

Kricket

Just had a BRUTAL customer service call with a NATIONAL BANK’S complaint department. Wouldn’t talk to me because my name wasn’t correctly listed on the account. The complaint was that my name wasn’t correctly listed on the account.

Zero_Effekt

I've used Coinbase exclusively as my fiat on/off ramp for nearly 7 years now. It wasn't until sometime around the site change, which forced migration from GDAX/CBPro to CB, that mysteriously I could no longer make direct deposits from my bank account. I suddenly had to 're-link' it, which involves literally giving Plaid my online banking login credentials (user/pass). Which is utterly hilarious considering they lost a massive class action lawsuit a handful of years ago for exploiting/abusing everyone's personal financial data (which they can take a peek at whenever they feel like it). tl;dr I deal with the bs card fee on top of the 'paying higher than spot price' since I value my ^(LITERAL BANK LOGIN CREDENTIALS) too much to give that information away. Never had to do it in the past. Now suddenly "but everyone's doing it!" is the mantra that counters my complaint/critique. Imagine giving a 3rd party, whom has previously violated people's personal financial data, the login credentials to ... your personal financial data. All so you can 'avoid pesky fees'.

J-E-S-S-E-

No BANK activities pose risk to US banking system

chrisdamian81

sillicon valley was a 200billion official BANK!! and they failed, they were 4 times bigger than binance, the point of btc is nobody owns your money. binance owns your btc you own nothing

defiCosmos

You can make BANK with JPegs! Shiiiit.

iamjide91

It's common for newcomers to experience this. Over time, I've shifted my focus from percentage gains to the actual usage and utility of the tokens. I'm holding BANK and DIA mainly for their utility rather than just their price. Even during market dips, I've continued to buy more of these tokens.

Machete521

My redditor in christ Musky wants ol X'y to be an exchange Coinbase is launching their own freakin network Jack Dorsey and Micheal Saylor are making BANK **BLACKROCK** Were already being manipulated. Just DCA and wait.

middlemangv

Where all of this came from? I never said use banks or use crypto only, I just made a comparison, with some examples that were pointing to one question (fair simple one) - DO YOU FEEL THAT MONEY IN THE BANK IS TRULY YOURS? Is crypto perfect? No. Do I use both systems? Yes. I am tired of people bashing on me yet missing the whole point.

BrianS911

Veridian is probably one of the most well connected CEOs in the space his reach is vast throughout tra Fi, and defi.Over ledger is a game changer when it comes to operability between both markets.He holds consultation positions in the UK, France and south America.On par with ripple, Quant is the Choice for Smart Money.My personal take is that if you don't have some it's complete stupidity in the long run.A good % of cbdcs will be developed and will also run on over ledger. MONEY IN THE BANK!!!!! As you will hold some of the assets that will make up a good % of allocated assets of what global conglomerates will use for international settlements.

Umpire_State_Bldg

Nixon did not wake up one fine morning and say, "You know what? I think I'll take the Dollar off the gold standard..." It was not up to Nixon to decide. Nixon was merely the messenger - the front man who went in front of the TV cameras to announce what the rest of the world had already figured out. The US had abandoned the gold standard long before Nixon made his famous announcement. That is, the US had been "printing" more Dollars than they had gold to cover, for many years. Other countries were trying to exchange their US Dollars for gold which the US did not have -- a good old-fashioned **BANK RUN** on a global scale. The US got caught with its pants down. Nixon merely made it somewhat official by blaming "money traders". Nixon made it clear: All you other countries, we lied to you, we cheated you, you've been robbed - so stop clamoring to get your gold back - it doesn't exist.

ObiWanKokobi

Sam BANK MAN Sam ALT MAN Seriously? Are the devs this blatant in their rugs?

BitCypher84

> This image shows a completely fictitious scenario of doing a bank transfer This image clearly mentioned: 'SENDING FIAT'. Not 'SENDING A BANK TRANSFER'.

Silver-Maiar

>For example, HesabPay didn’t develop and port to Algorand on their own. Instead, AF paid them grant money to port to Algorand so they’d have a “success story” for their newsletter, but it has been a failure and is not being used. False. HesabPay is growing at 2k users per day. 1762 Active Merchants. Over 2.7M transactions on Algorand already. [https://twitter.com/HesabPay\_/status/1680202367461892101](https://twitter.com/HesabPay_/status/1680202367461892101) ​ >You want to talk TravelX? Tell me what problem it solves that wasn’t solved by simply purchasing airline tickets using standard technology? To me, it’s like inventing a solution to a problem that is already solved and you don’t need a decentralized blockchain to issue NFT airline tickets. Why yes, I do want to talk about TravelX. They are already partners with the second largest airline in Argentina, and also announced a new partnership with AIR EUROPA. Their entire model provides secondary ticket sales and helps BOTH the airline (through commission of resales), AND provides ticket purchasers with a secondary ticket market (another win). ​ >Lofty is the only one that seems like an interesting idea Oh cool you actually recognize the value of tokenization of assets (including real estate). Good job champ. You didn't even address the other use case I mentioned, which is the CENTRAL BANK OF ITALY choosing **ALGORAND** for digital sureties. For your reference, the Central Bank of Italy is one of the "big three" EUROPEAN UNION CENTRAL BANKS.

coinfeeds-bot

tldr; European banks are leading the global race in providing bitcoin custody services, while U.S. banks face regulatory challenges. The U.S. Securities and Exchange Commission's guidelines treating customers' crypto assets as liabilities have proven to be a significant hurdle for U.S. banks. In contrast, European banks have been proactive, with major institutions like Deutsche Bank, Credit Agricole's CACEIS, BNP Paribas, and DZ BANK AG announcing plans to offer digital asset custody services. The demand for these services is fueled by the increasing involvement of U.S. households in crypto-assets and the growing interest among younger generations. U.S. banks need to overcome regulatory challenges and meet the evolving needs of their customers. The success in the crypto custody race will be determined by adaptability, resilience, and a clear understanding of the complexities of the crypto world. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; European banks are leading the global race in providing bitcoin custody services, while U.S. banks face regulatory challenges. The U.S. Securities and Exchange Commission's guidelines treating customers' crypto assets as liabilities have proven to be a significant hurdle for U.S. banks. In contrast, European banks have been proactive, with major institutions like Deutsche Bank, Credit Agricole's CACEIS, BNP Paribas, and DZ BANK AG announcing plans to offer digital asset custody services. The demand for these services is fueled by the increasing involvement of U.S. households in crypto-assets and the growing interest among younger generations. U.S. banks need to overcome regulatory challenges and meet the evolving needs of their customers. The success in the crypto custody race will be determined by adaptability, resilience, and a clear understanding of the complexities of the crypto world. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; European banks are leading the global race in providing bitcoin custody services, while U.S. banks face regulatory challenges. The U.S. Securities and Exchange Commission's guidelines treating customers' crypto assets as liabilities have proven to be a significant hurdle for U.S. banks. In contrast, European banks have been proactive, with major institutions like Deutsche Bank, Credit Agricole's CACEIS, BNP Paribas, and DZ BANK AG announcing plans to offer digital asset custody services. The demand for these services is fueled by the increasing involvement of U.S. households in crypto-assets and the growing interest among younger generations. U.S. banks need to overcome regulatory challenges and meet the evolving needs of their customers. The success in the crypto custody race will be determined by adaptability, resilience, and a clear understanding of the complexities of the crypto world. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

AnotherPosition

Yeah, definitely dead. The American Red Cross just announced a partnership with Visa to pay disaster survivors benefits through their Kare platform, which is built on ALGO. FIFA is still building and just released a self custody option for their nft platform, but yeah definitely dead. What else, oh yeah, BANK OF AMERICA just highlighted TravelX nft ticketing for airlines as a breakthrough usecase in one of their papers, but yeah, it’s dead. The list goes on. Algo isn’t going anywhere, no matter how bad you want it to!

Odlavso

Biy $BANK on Algorand, it's sure to comeback up. >!Do not buy BANK on Algorand, Algofi is dead!<

confirmSuspicions

Actually they did screw over anyone that locked up BANK token. Only the people that had a liquid token could sell it in time. Now it's worth a fraction of what it would have been.

Flynn_Kevin

This stings a little, but I'll be fine. I made enough off ALGO during the bull run and shorting on the slide down that my bag is house money. Not only is my bag house money, it's been earning enough ALGO that my portfolio $ value has been relatively stable. I had enough faith in AlgoFi that I locked 100K BANK until January 1, 2027. Just going to write that off as an unrecoverable total loss and move on. Which is fine, 100% of it was air dropped or earned by staking. AlgoFi was a money printing machine for me in 2022. I read the writing on the wall when they announced that the Vault would not be participating in governance period 8. I pulled all my liquidity off the platform and dumped all my STBL/STBL2 and what BANK I had put into LPs a couple of weeks ago. I know I'm a small fish, but I did have 3.5% of the ALGO-BANK pool on Tinyman V2. I know a lot of people got burned on ALGO. Could have been me, but wasn't. I'm going to keep doing what I have been in the ALGO DeFi space and hope that we see some price action next run. Remember, I'm playing with house money now. If it goes to zero, it's a loss that won't really mean anything to me other than a sweet write-off.

Odlavso

Here is the $BANK chart (Algofi token) right after the announcement if anybody is interested. 

coredweller1785

Socialist myself and a bitcoiner. It is a public good and Jack Mallers himself has said this a few times. If you read Buterins book Proof of Stake his main ideas are how to proliferate public goods through crypto. Fixing trust and governance. Preventing centralization of power. The Fed on the other hand are a PRIVATE BANK. The Fed Regional banks are PRIVATE FOR PROFIT BANKS. The Fed governors are all right wing neoliberal capitalists. The goal of neoliberals based on hayek and friedmans Austrian economics is to reduce govt to a minimal size and use it for market friendly policies. What is more market friendly than printing 8 trillion to stabilize a financial market. So when right wingers say the Fed are communists or Socialists i fucking laugh in their face. If Socialists or even fucking Keynesian capitalists printed 8 trillion we would not spend it on stabilizing a fucking financial system we would build healthcare, education, housing, food, water, infrastructure, etc. Not stabilize some market. Anyone who says that has no idea what they are talking about.

experiencenonsense

Yes because they're a BANK. Not a weird and shady crypto exchange. Holy crap.

Fbastiat1850

Let me help: The money in your mind IS YOUR BANK ACCOUNT.

rjm101

This is why CBDC's would be so terrible. Instead of a bank imposing limits on you buying X amount of crypto every month it would be the CENTRAL BANK. So it doesn't matter where you go you can't just hop to another bank and avoid it.

stupidcupid112

Get a lawyer since this has police involved. But first contact your BANK. Ask them on whose request have they frozen your account. And get the details of the customer from there.

pojut

Hopefully! I'm just pissed at myself that I messed up that opportunity since the chances of the whole rebase thing ever happening again are extremely slim. If I'd had the knowledge during that time period that I have now, I could've made BANK. Woulda coulda shoulda though...as the saying goes, wish in one hand and crap in the other, see which fills up first.

coinfeeds-bot

tldr; Cardano DEX Minswap has seen a surge in trading volume driven by meme coins SNEK and BANK. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

NervousShop

Made a good bag of BANK myself, got little left to ride where it goes.

WhatAFellowWeAre

$BANK also on a rip today @minswap

flatpak2021_08_2021

lol the batching queue to buy BANK is currently >500 transactions literally impossible that you were able to buy in 1 minute

BriBumer

Not true, i bought some minutes ago BANK. And it took me 1 minute to get my BANK token. Trading half day buy and sell. Which wallet are you using? I am using eternl. Blockchain and wallet are pretty fast

flatpak2021_08_2021

it currently takes over 1 hour to buy/sell the popular trading pairs (BANK/SNEK) on the #1 DEX (Minswap) and the entire Minswap exchange has less than $10 million volume ATM

NervousShop

This sure is meme coin season. Another meme token called BANK launched on Cardano almost 12 hours ago and already done over 1500%. lol

Impressive-Key938

GET UR DAD TO STOP CONTACTING THESE PEOPLE IMMEDIATELY GET A NEW BANK ACCOUNT NOW It is so unfortunate this is the world we are in right now.

LatinumGirlOnRisa

yes! & thumbs up from me to your reply! because I hoped that point was clear to other customers, too! so, *THANK YOU,* for being someone who also understands that..as not sure why?? but seems far too many of our truly innocent brothers & sisters are being marketed to.. into believing a *now* multi-sig hot wallet is, somehow the same as an online hot wallet! and as, of course, the literal blueprint isn't the exact same! but the *basic* blueprint/model/potential wrong wave is the same. as is the Ledger NanoX is STILL marketed on Ledger's site pages as 'cold storage's wallet..which it is NOT. since it's now, for all who fall for this nonsense, NO LONGER a cold storage wallet! but leave it to Charles & friends to burn their previously loyal customers..those of us who STILL cannot fathom -or who are *willfully ignorant* about WHY Ledger's ridiculous change, this time around anyway, was..well.. disrespectful & tone-deaf & low social IQ stupid. because, really Ledger, between their advertised basic, cold storage wallet are ALSO STILL advertising 💯% contradictatry products that INVITE hacks/phishing theft's/wrench attacks!! and many who are already an IMMEDIATE financial target of cryptocurrency wrench attackers ACCESS to the names & locations of Ledger customers! since Ledger *ALREADY* allowed a data breach..leading, for hackers & wrench attackers, one/and or MORE than one of of their kids, a spouse, one or both of their parents, grandparents, etc, one or more of their locations! NO, Ledger: trust is LOST!! as you, NOW, have to change your conflict-of-interest-target-sales-demographic. what a SUPER-COLLASAL FAIL & only reinforced here in this baked-in, former BANK LESS sponsor!! so, what, on Ledger's next step and with so MANY [at this point, *former* ] but *no longer* customers' trust/trustless belief in Ledger...

PseudonymousPlatypus

What do you not understand about my point? You keep bringing up irrelevant stuff, so I don't know what you want from me. Just to keep repeating myself? And in your example, you pick two of the most expensive crypto to send. Why? To cherry pick to make your point? I send and receive crypto on a daily or weekly basis. I virtually never use BTC or ETH for financial transactions or purchase. Even with Lightning. So it's clear you're cherry picking coins that are not designed for your use case. The coins I use have less than half a cent fees or are free. You seem to be confused about why crypto exists. I'll repeat myself one last time to give you a chance to comprehend my point. Crypto was intended to be: - non-government - extra-legal - peer-to-peer - censorship-resistant - decentralized - private/fungible - digital - cash-like Your SWIFT transaction is none of those except digital. So maybe your use case doesn't need crypto. So why don't you just use SWIFT if it fits exactly what you want to do? Fiat has a place. Sometimes fiat should be used. Sometimes crypto should be used. Crypto provides a way to transfer funds without interference by governments. SWIFT can be seized. Frozen. Monitored. Censored. Tracked. Crypto (examples: Litecoin, Monero, Bitcoin Cash, etc etc) transactions cannot be seized or censored or whatever. It's decentralized. All of these have less than a cent fees and are fast. Essentially immediate. Monero adds fungibility and privacy. You don't NEED A BANK ACCOUNT for crypto. You need a bank account for SWIFT. You have to let someone else control your money. You have to beg for an account. Many people don't have the ability to open a bank account. Crypto doesn't have that problem. You seem to dilute the usefulness of crypto down to if you can turn it back to fiat for cheap. But that's not even what crypto is. That's like saying you need to turn a screw and being mad that a hammer isn't working. So then you say the hammer is a bad tool. Use the hammer to hit nails, and suddenly you realize it's a good tool. It solves the goals it set out to solve. It never tried to nor was capable of changing how exchanges function lol

Unohim

>Comment with BANK & COUNTRY # BANK & COUNTRY

Sauceeq

I fully support this. FUCK CHASE BANK BANK.

ChillyMathew

Just reading this feels illegal. I don't know in what world is it okay for someone LET ALONE BANK to deny you the access to your money and not let you spend it in a way you want.

MaximumStudent1839

>I DO NOT WANT THE BANK TO MAKE BETS WITH MY MONEY, Sure, don't use a bank. Go buy a vault or something. Put your money there. Even better just use private banking. There are options out there. No one is forcing you to use a bank. >GO GOOGLE SAVE THE CHILDREN ACT YOU FUCKING IMBACILE Here we are talking why fractional reserve banking make lending cheaper and more affordable. But you just go on a tantrum about how you don't want them to use your money. Who is the imbecile now? No one is forcing to use a bank. I bet you use the bank for all its financial convenience and services. You think they don't need to earn money to provide you those services lol? If you can afford to pay for these services directly, go private banking and stfu because you are off-topic.

TheFirstBull

Mate, what are you on about? Again you just blindly pass all my text and start whining about filthy rich parents and how bad full reserve banking would be. You are literally a bank advert LMAO This is the last time I bother responding to you, cause you're acting like a blind bank advert.. I go all caps bold text so you maybe understand lol **I DO NOT WANT THE BANK TO MAKE BETS WITH MY MONEY, BUT WITHIN THE FRACTIONAL BANKING SYSTEM THEY ARE ALlOWED TO DO THAT. UNDERSTAND THAT A NAME OF A SYSTEM HAS NOTHING TO DO WITH THE FUCKING SYSTEM, GO GOOGLE SAVE THE CHILDREN ACT YOU FUCKING IMBACILE**

MaximumStudent1839

Fractional reserve banking is how the world is able to afford cheap mortgages for young workers and struggling families. Without fractional reserve, interest rate would be extremely high and forcing people to rent, unable to build up their home ownership equity early. It hurts those who don't have assets and benefits those who do. It would make inequality a lot worse. Let make an example to make it concrete. **Day 1:** Joseph opens a bank called BANK and its total deposit value is $1.5 million in cash. $0.5 million belongs to Joseph and $1 million belongs to his customers. **Day 2:** Danny and Mike both need a mortgage worth $0.5 million. * **Under full reserve banking,** Joseph can only lend out his $0.5 million in deposits. So either Danny or Mike gets to own a home while the other will be forced to continue to pay rent instead of building up homeownership equity. * **Under fractional reserve banking**, Joseph can use his customer's deposit to help both Danny and Mike to both buy a house. Now both can stop subsidizing their landlords and put their income toward building home ownership equity. **Day 3:** Joseph can now use the interest he earns from Danny and Mike's mortgage to afford an APR for BANK customers' deposits. How else do you think banks can generate **REAL** yields to customers' deposits? They can't run like crypto PONZIs with printing their own money via inflation, aka crypto staking rewards. So many of you are easily hoodwinked by Austrian economic BS and fail to understand how fractional reserve banking provide essential functions all you take for granted. The asset rich people would LOVE to get rid of fractional reserve because they can dictate harsher borrowing terms on those who have labor but no assets. Young workers, who don't have filthy rich parents, will struggle harder under a system without fractional reserve banking.

BrextonPhilbisNewton

Reddit user Relai\_Alex says he will never kneel to CENTRAL BANK, but he is already on his knees. He owes his landlord rent and his landlord owes interest to a bank. Reddit user Relai\_Alex would never ask the BITCOINER army to help him buy a house free and clear, and even if he did, the BITCOINER army would refuse.

jps_

And you understand less if you aren't able to differentiate between an EXCHANGE and a BANK. Exchanges operate entirely on custodial assets and *must* be over-collateralized, otherwise they are not exchanges.

JoNwOrDy

BANK CRISIS BODY COUNT: 5 🇺🇸 - FRC, SVB, Signature, Silvergate 🇨🇭 - Credit Suisse 🇩🇪 - Deutsche Bank? 🇫🇷 - ? 🇬🇧 - ? 🇪🇸 - ? This is just the beginning....

bigshooTer39

BD Capital $BANK pays a BUSD dividend

Head-Search-4301

At this point, whenever we see BTC thriving, i go check if some bank is sinking again lmao. And yes that is true FIRST REPUBLIC BANK shares sinks for another 10% in premarket to break another new all-time low record. What a time to be alive !

nevjera

 HOMEMARKET US BANK CRUMBLES: CAN BITCOIN FIX THIS?  ADMIN APRIL 26, 2023 Facebook Twitter  Shares of First Republic Bank (FRC.N) fell over 20% after reporting a deposit decline of more than $100 billion in Q1. Will legacy banks continue to downplay cryptocurrency, or diversify? Depositors pulled over $100 billion from First Republic Bank in the first few months of the year. The deposit outflows started last month after two regional lenders collapsed, leading customers to move their money to larger institutions. The news follows a Q1 rocked by the largest banking crisis since 2008. “With the closure of several banks in March, we experienced unprecedented deposit outflows,” First Republic’s chief financial officer, Neal Holland, said in a statement. “We are working to restructure our balance sheet and reduce our expenses and short-term borrowings,” he added. As the bank grapples with liquidity problems, some observers may wonder whether it has gone far enough to diversify its offerings. These have been somewhat limited. For example, First Republic Bank has not established a crypto trading platform of its own, instead directing customers to third-party brokerages. Here, it stands in contrast to banks and platforms such as SoFi, Neobank N26, Juno, Robinhood, and others with more diversified offerings.

ThrillingTurtle

FADE IN: EXT. NEW YORK CITY - DAY The city is bustling with people going about their day. Suddenly, the sky darkens, and a giant shadow covers the city. The camera pans up to reveal Elon Musk, AKA Doge Daddy, on a giant spaceship shaped like a Doge coin. DOGE DADDY: "Attention, citizens of Earth! Your crypto overlords have arrived!" Cut to Satoshi Nakamoto, AKA Satoshi Nakamoto, in a secret underground bunker. He receives an alert on his computer. SATOSHI NAKAMOTO: "It's happening." Cut to Vitalik Buterin, AKA The Prodigy, sitting in front of a computer screen, analyzing the situation. THE PRODIGY: "We need to act fast. Musk is summoning an army of Doge shills to promote his latest scam coin." Cut to Michael Saylor, AKA Michael Whaler, in his office, holding a massive bag of Bitcoin. MICHAEL WHALER: "I'm ready to hold the line." Cut to Nayib Bukele, AKA El Presidente, standing at the edge of a volcano, ready to unleash his powers. EL PRESIDENTE: "This is going to get hot." Cut to Gary Gensler (Pre 2022), AKA The Educator, addressing a crowd of people about the dangers of crypto. THE EDUCATOR: "We need to educate the public about the risks involved in investing in cryptocurrency." Suddenly, the scene is interrupted by a news report. NEWS ANCHOR: "In other news, Warren Buffett, AKA The Veteran, has acquired a significant stake in several crypto companies." Cut to Warren Buffett, AKA The Veteran, sitting in his office. THE VETERAN: "I've been around long enough to know a good investment when I see one." Cut to Jim Cramer, AKA Zoltar, watching the news report. ZOLTAR: "I see great things in the future of crypto." Cut to Sam Bankman-Fried, AKA The Fraudster, walking into a bank with a briefcase full of cash. BANK TELLER: "How can I help you?" THE FRAUDSTER: "I'd like to make a deposit." Suddenly, the bank explodes, and The Fraudster disappears. Cut back to the heroes preparing for battle. SATOSHI NAKAMOTO: "We need to stop them before it's too late." THE PRODIGY: "I have a plan." MICHAEL WHALER: "Let's do this." EL PRESIDENTE: "It's time to unleash the power of the volcano." THE EDUCATOR: "Let's educate the world about the dangers of these villains." Cut to the villains, preparing for battle. DOGE DADDY: "Let's show these plebs the power of the Doge army." THE VETERAN: "I've been waiting for a challenge like this." ZOLTAR: "I see victory in our future." THE REGULATOR: "I will enforce the rules of the land." The heroes and villains face off in an epic battle, with each side unleashing their powers. Satoshi Nakamoto's unknown abilities are revealed, and he single-handedly takes down Doge Daddy's spaceship. The Prodigy solves the blockchain trilemma, weakening The Veteran's immortality. Michael Whaler holds the line against The Fraudster's disappearing act, and El Presidente unleashes a massive eruption from the volcano, taking down Zoltar. The Educator convinces the public to stop investing in crypto, causing The Regulator to lose his powers. In the end, the heroes emerge victorious, and the villains are brought to justice. Satoshi Nakamoto reveals that he had been working behind the scenes, gathering information on the villains and their plans. He thanks the heroes for their bravery and teamwork in stopping the villains' evil plans. As the heroes celebrate their victory, The Educator suggests they continue working together to educate the public about the risks and benefits of cryptocurrency. They all agree to work together and ensure that crypto is used responsibly and for the greater good. FADE OUT.

FoulmouthedGiftHorse

Hahahahahahahahahahaha!!!! SVB WAS VC money you dipshit!!! SILICON VALLEY BANK You seem intent on getting internet tokens with no oversight and little transparency. And the Defi protocols ALL have very strong ties to VC's and centralized exchanges - that way they have the APPEARANCE of being decentralized, but the VC's and exchanges actually control them. Rest assured, they won't lose any money, but you will. I've never used Zelle and it sounds like a shitty service. But I understand why you cryptobros like it - it has no fraud protections!

Safe_Boot677

Anyone realize and articulate yet how this guys name is Sam BANKman Fried? As in, UNCLE SAM fried the BANK man when he stole your money so you should trust the government 😉 It's a play on words, a joke in plain sight, and it's all about misdirection, manipulation, and distraction to take a shot at crypto and at the same time make the masses feel like the BANK MAN got FRIED for his bad deeds and everything will be alright if you just stay away from crypto. Get it? It's a subconscious trick on the general public by the Aristocrats running government. BANKman is an ACTOR who will ACT as the singular scapegoat to be FRIED by Uncle SAM, but it was really a goup effort perpetrated by Uncle Sam! Think about all the money that moved through FTX from cryptomarkets to financial institutions like banks(superpac donations, bribes, etc). At the same time, cryptomarkets are portrayed as unsafe and the BANKman in charge of it is getting FRIED. So now that the dust is settling come on into your local BANK and stay out of cryptomarkets! Just saying, think about it, and how all the hidden things that run society are right there for you to decipher. These people are master psychologists.

musecorn

Exchanges have a purpose and they are essential to the crypto world. But USE THEM AS THEY ARE MEANT TO BE USED: TO EXCHANGE! THEY ARE NOT TO BE USED TO HOLD YOUR MONEY. THEY ARE NOT A BANK. The more people realize this the better. But most people don't understand this until they lose thier money somehow and learn the hard way

TipsyGypsy94

ALL OF YOUR WORDS AND THOUGHTS ON THE SUBJECT ARE MEANINGLESS !!! WAKE TF UP!!! ALL CRYOTO THAT IS NOT CENTRAL BANK DIGITAL CURRENCY WILL BE USELESS VERY SOON. Someone please try to explain to me , how can one use a DIGITAL currency that's not approved by the Central world banks for commerce or trade? When every blink off an eye or fart is analyzed in real time by AI ! NAME ME THE DEVICE YOU WILL USE that won't be tracking every move of every person that's still alive once the smart cities and all other surveillance and enforcement measures (weaponized smart street lights, Etc ) are fully implemented GLOBALLY! Don't worry I'll wait ....

OneThatNoseOne

In all honesty, it the world **BANK.** I can't say I expected much from them. They love when people spend money so why not push it further with expiring currency.

samzi87

EP 72: BANGLADESH BANK HEIST is one of them but there are more on the topic.

DebianDog

Fed now is not a CBDC 🤭 It may or may not use blockchain but it is a BANK to BANK only system. You have to pay to join https://www.frbservices.org/resources/fees/fednow-2023

abatoirials

> If you took someone from a jungle tribe and told them to make a BTC wallet or get a bank account, the BTC wallet is 100000x easier. HAHAHAHHAHAHHAHAHAHAHHAHAHA Living in 3rd world country with actual jungle tribe here. Which one do you think is easier to explain to someone that never have phone? 1. go to this bank building, sign some paper, and receive your cash or 2. Ask him to go to bank to get some cash and buy smartphone, start explaining how phone works, how you need to buy credit every month for use, how to set up password for phone , how to install apps from playstore, set up wallet, GO TO BANK to actually buy some BTC from exchange, explaining his money value fluctuate day by days sometimes 20%, explain that you need to buy new phone and money gone if missing. Holy hell, that is one long education to jungle people. Have you go to 3rd world country and meet this 'unbanked' jungle people?

jcmonkeyjc

yooo everyone BANK RUN ON BINANCE!!

dog-army

Isn't the Canadian truckers' strike a great example of this. Whatever your political leanings or opinions about the strike, the fact that the government shut down BANK ACCOUNTS of those who supported the strike should be chilling to anyone.

salmaa4321

BREAKING: >*BANK OF AMERICA SHARES FALL TO LOWEST LEVEL SINCE NOVEMBER 2020 The banks shitshow continue..

Many_Quick

A couple have tried for BANK status..always turned down in US. Corrupt politics is my theory.

Crypt0fart

Get your coins off the exchanges guys. BLEED THEM DRY. BITCOIN BANK RUN 2023 👍✊✌️

liv2cod

Governments are addicted to managed economies with their control over money printing and interest rates. If you are a student of history, you quickly realize this is exactly what the US Constitution was created to stop. Central economic control always enriches those in power at the expense of everyone else. Janet Yellen has been paid MILLIONS of dollars by the banks she "regulates" in the form of speeches. Now she is choosing WHICH banks to bail out and which to allow to fail. Bitcoin eliminates this central control. That's why the power players now see it as the enemy they must stop. It's not a coincidence that Signature Bank was suddenly seized, even though it had no "run" going on. It was just the MAIN BANK for the crypto industry, since Silvergate and SVB had just been shuttered. It was a planned, calculated attack on bitcoin and crypto. It's been called Operation Chokepoint 2.0 (since 1.0 was aimed at gun makers and sellers). It will be interesting to see how bitcoin responds when the on- and off-ramps are closed to fiat currency in the US. The administration plans to make it impossible to bank with crypto exchanges, thus cutting off American's ability to buy and sell bitcoin. P2P exchanges like Bisq offer a tiny fraction of liquidity to US buyers and can't pick up the slack. I'm not sure how an American goes about creating a foreign bank account just so they can buy and sell bitcoin. They sing about the "Land of the Free" but as far as I can see, US citizens have less financial freedom than most of the world right now, and it's being diminished by the day.

4inalfantasy

The objective of crypto is to achieved independence from banking industry. This is true and we are not there yet. While we have some side saying how crypto gain when banks falls and all that, the thing is ppl failed to realize, this SVB only looks big because media wants it to look big. All of these are just some plaything from the 1%. If you compare SVB to REAL MEGA BANK aka those big fish Citibank, Swiss, HSBC, SVB are just like a potato to them. All these are just another day of happy gain for the 1%. Nothing more than that. Ofcourse some industry will be shaken, or many stocks holders will be affected, but again it's just the smaller one amd not those in Power. My outlook is simple. I only trust myself especially in investing and don't really care much about what influencer, medias or even so called analyst say. Btc gonna be 1M? Sure but i still not gonna care. LoL. My believe is Crypto going to be big, much much bigger than what it is today and this couple years are just the start of it. So im gonna hold for atleast 10 years. But i won't listen to what media say. Atleast of i did makes a wrong decision, only got myself to blame and fully aware that i won't regret it.

AccomplishedView4709

On the consumers and small business side, we already have zelle, venmo can can process small amount of cash instantly, 24/7/365. Unless FEDNow is free to use and allow much larger transfer amount like ACH, I wonder why Fed need to reinventing the wheel. Also any instant transfer also mean instant "BANK RUN", the Fed probably did not think that through.

seayourcashflyaway

Jan 3rd, 2009, a fake internet currency called “bitcoin” was released along with the following statement in Block 0: 
”The Times 03/Jan/2009 Chancellor on brink of second bailout for banks” https://blockchair.com/bitcoin/block/0 LITERALLY THE POINT OF BITCOIN’S EXISTENCE IS BANK FAILURES.

coinfeeds-bot

tldr; A Bitcoin true believer drove a Budget moving van in front of Silicon Valley Bank's entrance with the message "BE YOUR OWN BANK" plastered on the side. A video of the stunt, set to Pink Floyd's "Money" as soundtrack, was tweeted by an account with the handle @cryptograffiti. Many in the market believe crypto is rallying not because of fear triggered by the crisis itself, but rather the aggressive response from the government. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*

Dutchsteam

She should’ve focused on the risk that bigger banks have over smaller banks. AND THAT NOT EVERY BANK WILL BE STOOD GUARANTEED FOR! She should’ve mentioned that people who switch banks just because of the guarantee the fed gives to 2 banks are not responsible and are of equal as much risk when staying in a local bank. Not to say that this is true or anything, but be more confident in talking about this cuz it’s getting hot in the states now

masterbatesAlot

Try TANK SPANK BANK

samios420

SPANK BANK RANK. Difficult to say three times fast.

BountyBard

# CRYPTO ISN'T THE REASON WHY SIGNATURE BANK WAS CLOSED ^(it was our incompetence!)