The biggest crypto exchange going down.

[Anonymous No.54352040]

Binance is going down.

The U.S. is going to burn Binance down to the ground.


Charge 1. Execution of Futures Transactions on an Unregistered Board of Trade

Charge 2. Illegal Off-Exchange Commodity Options

Charge 3. Failure to Register as a Futures Commission Merchant

Charge 4. Failure to Register as a Designated Contract Market or Swap Execution Facility

Charge 5. Failure to Diligently Supervise

Charge 6. Failure to Implement Customer Information Program, and Failure to Implement Know
Your Customer and Anti-Money Laundering Procedures

Charge 7. Anti-Evasion


It definitely is a change of an era.
That Michael Saylor guy is a huge retard.
*They* are in your telegram channels. Redeem and get out now my basterds.

[Anonymous No.54352058]

>>54352040
>The U.S. is going to burn
Yapp

[Anonymous No.54352082]

>>54352040
US has no power over CZ

[Anonymous No.54352099]

Sub 10k.

[Anonymous No.54352100]

I work at coinbase and I would love it if these corner-cutting slants get shut down but I don’t see how the US could do that.
Do they have a ton of assets in the US or in US banks?

[Anonymous No.54352101]

>>54352040
go back to plebbit

[Anonymous No.54352108]

>>54352040
The man who would sacrifice self custody for a small bit of convenience, deserves neither. -Thomas Jefferson

[Anonymous No.54352110]

>>54352040
Bullish

[Anonymous No.54352126]

>>54352040
Psssh. No it’s not. Fuck off jew.

[Anonymous No.54352128]

>>54352108
Hope so!

[Anonymous No.54352133]

>>54352040
go to bed Sam, don't piss off mom

[Anonymous No.54352142]

>>54352100
how do you feel about kraken?

[Anonymous No.54352150]

>>54352040
Nigger, the US is literally like the USSR was im 1986 - in other words, just before it died.
It even has its own Chernobyl, only with fewer precautions and more letting people get cancer.

[Anonymous No.54352168]

>>54352108
Yeah just keep everything in gold.
Buy guns, never leave your house, get off the internet.
Just do nothing but watch your gold 24/7
It's over

[Anonymous No.54352181]

>>54352110
Noice. How many times/year do we get a 'breaking the CTFC sues' message?

[Anonymous No.54352194]

How many times binance died already?

[Anonymous No.54352222]

>>54352142
Nothing bad to say about kraken.
They put out a good product and they steer clear of obvious land mines, providing their users with confidence and stability.
I also like Jesse.

[Anonymous No.54352226]

>>54352040
Good, he's a fucking scammer

[Anonymous No.54352328]

>>54352040
cool, can we do Tether next? oh wait... that's right, Tether IS the feds.

[Anonymous No.54352344]

>>54352222
Checked. Yes, after getting burned on 5 opaque countertrading CEXes that completely undermine the whole reason crypto exists, try a sixth one!

[Anonymous No.54352358]

Absolute nothingburger.

In the end the only problem will be the 2019-2020 period before they went fully KYC and CZ will pay some pocket change 50-100M fine and that's quite literally it.

[Anonymous No.54352637]

>>54352099
there's not enough blackswans on this bobo we need more

[Anonymous No.54352667]

>>54352181
Not as many as the 'china band crypto for real this time' messages.

[Anonymous No.54352729]

>>54352150
the US' chernobyl is more aptly covid as the video explains https://www.youtube.com/watch?v=8cBNyyAGETU

[Anonymous No.54352782]

>>54352040
>checks the price
lmao America is irrelevant
nobody cares anymore

[Anonymous No.54353069]

>>54352040
Binance never stole from anyone like SBF who stole from the poor and gave to Congress

Anything the US government does will be beyond retarded and further separate then from their populous

[Anonymous No.54353148]

>>54353069
I think regulators see the writing on the wall at this point. It's either beat crypto or join them for US institutions. They've decided to die on this hill a long time ago since most of these boomers won't see the worst consequences of losing the fight anyways. They're selling out our future to maintain their pride.

[Anonymous No.54353179]

lol It's only Binance US, which is a nothing burger

[Anonymous No.54353242]

>>54352040
crypto is recognized as a commodity, not futures. Remember back in 2017 when governments wanted in on taxing crypto and they couldn't wrap their heads around what to even call it? Those charges will NOT hold up in court. As for off-exchange commodity, it'll be a slap on the wrist just like other stock exchanges with big money. Absolutely nothing new here. Binance is NOT shady like FTX, Mt. Gox, Coinsmarkets, etc. Nice try at a FUD campaign to pump your bags you fucking jew.

[Anonymous No.54353249]

>>54352040
2 more weeks

[Anonymous No.54353263]

The CZ cult delusion is boiling over ITT. If you don't think it's bad or that the US government actually can do anything, you're wrong. And no, I won't waste time arguing about it.
Bitcoin and many of your worthless shitcoins will survive this. But this is the end of the casino, whether you believe it or not.
Find a new get-rich-quick scam.

[Anonymous No.54353279]

>>54352133
kek

[Anonymous No.54353295]

>>54352099
1d mark. Zoom out. Bull pennant. March madness is almost over. You're welcome.

[Anonymous No.54353331]

>>54352100
One call to israel. That is all

[Anonymous No.54353420]

>>54352040
You do realize that anyone in the world can tell the US to go fuck itself.

I'm surprised that after 8 years britain still wanted to hand of julian to the US. Like just get over it, nobody cares about them anymore.

[Anonymous No.54353447]

>>54353263
If you're mad about minorities getting support then you're going to be REALLY mad when we fight back against US oppression. If they can't come up with a genuinely good excuse, the US will be fighting a war on 2 fronts.

[Anonymous No.54353463]

>>54353263
Hello newfag, google Bitmex.
If this was some apocalyptic event the market would be dumping hard by now. Yet it barely moved. Its a nothingburger to scare newfaggots like you off the face-melting bull-run that's coming.

[Anonymous No.54354003]

>>54352040
>Binance is going down.

[Anonymous No.54354688]

>>54353263
retard, it's a fine and stricter kyc required for americucks, just what happened with bitmex, they cant do anything else, and this is a civil suit, the one for bitmex was federal

[Anonymous No.54355272]

Nothings going to happen again

[Anonymous No.54355340]

>>54352168
gold never changes so there’s no need to watch it. bury it in the ground without protection of any kind and in 1000 years it will still shine

[Anonymous No.54355353]

You're retarded, it's Binance US, they have no voice over anything else, I'mma fatten my pond stack thanks to the fact that it's still listed on chinance KEK

[Anonymous No.54355371]

>>54352082
CZ caught red handed. Fucked around and finding out now. He's done.

[Anonymous No.54355374]

>>54355353
>Binance US
HHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

[Anonymous No.54355388]

>>54355353
I'm still balls deep into some futures, nothing will actually happen kek, burgerfags can cope as much as they want

[Anonymous No.54355399]

>>54353179
It is in fact a nothing burger, it's funny how much they try

[Anonymous No.54355402]

>>54352040
Binance is not in the us goof nut. That is like saying yo guys Bangladesh got some secret info and are going to arrest the owner of a Boston pizza parlor and shut them down. Fucking retarded.

[Anonymous No.54355404]

>>54355353
>Anon calling OP retarded
How innovative, we all knew

[Anonymous No.54355430]

>>54352040
USA have no power over Binance.

[Anonymous No.54355440]

>>54352040
nothintaco

[Anonymous No.54355446]

I like how CZ sent all his faggots to /biz/ for damage control. This is hilarious and sad, and he will go down

[Anonymous No.54355457]

>>54352108
Neither of what, luv?

[Anonymous No.54355478]

>>54355371
Shut the fuck up fucking faggot jew lover, just seethe

[Anonymous No.54355486]

>>54355353
Inshallah

[Anonymous No.54355519]

>>54355478
>>54355440
>>54355430
>>54355402
>>54355399
>>54355388
>>54355374
>>54355353
>>54355272
>>54354688
These are literally CZ defense force posts, some of them in ESL English. Hey CZ, you're about to get a taste of freedom. SBF was once untouchable too, chink

[Anonymous No.54355933]

>>54355519
Stay poor.

[Anonymous No.54355985]

binance.com

=/=

binance.us

[Anonymous No.54357633]

>>54352040
It's over.

[Anonymous No.54357641]

>>54352040
A meltdown on Binance would be the biggest hit to CEXs ever, but I'd be far away from the chaos with my BTC, ETH and XTZ stored in wallets like Exodus and Sylo where I have full custody.

[Anonymous No.54357674]

>>54355519
Why does CZ make mass replier fags like you seethe ? Just because he's Chinese ?

[Anonymous No.54357715]

>>54352637
Zoom out. He's actually riding a black swan.

[Anonymous No.54357767]

>>54352040
The US just doesn't like that you can swap tokens for tokens. It's clear that this is the entire issue with crypto, the nations of the world have been working hard to keep a controlled market and now we are back to a free one.

I will die holding crypto, I don't even care. Life is not worth living in fiat.

[Anonymous No.54357950]

Burn it all down

[Anonymous No.54357985]

It's a nothing burger. Fucking jewish rats screeching about crypto all day long while their banks are rugging left and right. Retards panic selling while kikes slurping up your coins with useless dollar.

[Anonymous No.54358006]

this threads make me want to use binance again, I dropped them when they started kyc'ing everyone

[Anonymous No.54358094]

>>54357985
>Fucking jewish rats screeching about crypto all day long
Anon, those are jewish guinea pigs.

[Anonymous No.54358115]

I just hold and stake my CAKE and BNB. Im waiting for 2025 :-)

[Anonymous No.54358122]

>>54357767
based
dying on that hill you fucking glowniggers
after that I directly bomb your ass

[Anonymous No.54358487]

>>54352194
4

[Anonymous No.54360182]

>>54352040

[Anonymous No.54360309]

I sneed 7 days to get my funds cleared to withdrawal from Chinknance. Funds are safu until then yes?

[Anonymous No.54360326]

>>54360309
should always keep your money off exchanges, but you're still retarded for falling for jewish propaganda

[Anonymous No.54360602]

>>54352040
make sure to double your bnb money
www.doubling.money

[Anonymous No.54360962]

>>54352040
>The U.S. is going to burn Binance down to the ground.
None of those claims are significant nor even relevant. In a real world congress would pass legislation first before the feds just enforced stuff but we have clownworld.

[Anonymous No.54361522]

>>54360326
Only retards still do that
>>54352040
not sure if this is true
but non-custodial wallets are the way forward right now.
Phantom, zengo are all safu
and sylo wallet that has been audited by the cybersecurity firm Certik, which adds additional layer of security to the wallet is safu in-between

[Anonymous No.54361548]

>>54360309
maybe

[Anonymous No.54361650]

>>54352040
Oh I can't short this. And Coinbase scares me. Has gme type randomness.

[Anonymous No.54363622]

>>54352040
>The U.S. is going to burn Binance down to the ground.
https://www.yicaiglobal.com/news/cnooc-totalenergies-complete-first-cross-border-yuan-settlement-of-lng-trade
You sure?

[Anonymous No.54363817]

>>54352040
>still 1 post by this ID

[Anonymous No.54363871]

Guys the US government gives all settlement moneys to George Soros through his network of organizations and pork barell runaway spending. They need funds so will squeeze crypto for everything they can so they start more tranny violence and rally race politics and sexism / kill more babies in hopes of having at least 50% of their cheating covered in the 2024 election.

[Anonymous No.54364024]

>>54352082
Except not even a few months ago Binance was caught up in a criminal money laundering scheme whereby they facilitated nearly half a billion in USD.
CZ will be kidnapped by the fucking FBI at this point regardless of where he is in the world.
You dont get it, the USA IS THE VERY DEFINITION OF THE FINANCIAL WORLD.

[Anonymous No.54364041]

>>54364024
>USA IS THE VERY DEFINITION OF THE FINANCIAL WORLD
>completely ignores my post
scared huh Schlomo?

[Anonymous No.54364076]

>>54352040
US flailing about like a giant dying spastic retard.
What a time to be alive.

[Anonymous No.54364089]

Crypto.com chads, our time has come

[Anonymous No.54364202]

>>54364089
is the guy begging a binancian?

[Anonymous No.54364337]

>>54352040
Not your keys, not your coins.

[Anonymous No.54364377]

>>54364024
lol, the FBI can't "kidnap" citizens of other countries while they're not even in America.

[Anonymous No.54364401]

>TICK TOCK
>or, as they say in China:
>NIP NONG

[Anonymous No.54364590]

>>54364024
cope and seethe wo meiguo pengyou

[Anonymous No.54364699]

>>54352040
>Charge 6. Failure to Implement Customer Information Program, and Failure to Implement Know
>Your Customer and Anti-Money Laundering Procedures
untrue, they made me KYC or I could only withdraw

[Anonymous No.54364722]

I have a long open on BNB on Binance

[Anonymous No.54365037]

>>54352100
Coinbase is fucked too.

[Cryptos No.54365147]

>>54364089
nigga please.
CEL token still has more worth - and that company is bankrupt.
NEXO token worth more ( and told Burgers - we don't need or want you)
Fukkin WRX poojeet exhange token worth double of CRO.


I Coinfess.
I slup'ped.
picrel.

[Anonymous No.54365267]

>>54352040
No it’s not. All they have is fud. Decentralized money MUST happen. It already has and will continue. Binance and CZ are now a monolith of extraordinary power in the world and old power MUST adapt or be destroyed.

[Anonymous No.54365290]

>>54355519
SBF crashed his entire exchange into the ground which is the only reason he got into "trouble" (he'll get a slap on the wrist because he's jewish like you.)

[Anonymous No.54365333]

>>54352040
>The U.S.

The US is not the world.

[Cryptos No.54365368]

>>54365333
nigga wut?

[Anonymous No.54367897]

>>54352040
>The U.S. is going to burn Binance down to the ground.

stop calling it the US, the US is a ZOG.

[Anonymous No.54367943]

Who says the SEC are in charge of securities anyway.
The US is no longer a constitutional republic, as illustrated by the government violating the peoples constitutional rights.
So the SEC doesn't draw any sort of legitimacy from the people.

So whats up with a bunch of people claiming that they are in charge?

[Anonymous No.54367996]

>>54352108
This. Self custody, cold wallet, run your node.

[Anonymous No.54368312]

>>54364337
Based anon, self custody is the future and it saves users from having their funds manipulated. I already did that by moving my Mex, Ride, Egld and Eth to my Ledger where I have full control.

[Anonymous No.54368426]

>>54352040
The U.S. is going into an era of self isolationism. Where they will exclude many of the original concepts it stood for.
>No freedom of wealth
>No freedom of lifestyle
>Surveillance state (look up s686)
>No freedom of information
>Crypto accessibility very limited
This is all lobbied by corporations... aka Fascisms. All the while BRICS is gaining strength and will come to be the "new region of freedom". America will fall behind and then collapse. It has already started. Tiktok blatantly shows how Instagram censors information and Americans will not stand up. I have no empathy for a people who will allow who represents them enslave them. This is why I decentralize.

[Anonymous No.54368801]

>>54364024
>STILL 1 post by this ID
schlomo...

[Anonymous No.54368922]

>>54368426
based

[Anonymous No.54368982]

>>54365147
Holy fuck you just bought the top, are you insane?

[Anonymous No.54369153]

>>54352040
>Failure to Implement Know
>Your Customer
They have a better kyc implementation than high street banks in the UK.

>t. Have seen your bank selfies

[Anonymous No.54369192]

>>54368426
>This is all lobbied by corporations... aka ((())).

[Anonymous No.54369219]

>>54352099
checked. it's going down
>>54352100
tell us about working inside coinbase.

[Anonymous No.54369281]

>>54368426
what you said has truth to it but
>tiktok
nigger seriously, chinks filter everything that hits 100 views then 1000, 10000, etc. well documented, don't deceive yourself.

[Anonymous No.54369323]

>>54352040
you baboon NIGGER. Why are you such a brainless silverback nigger wasting my time with this boring ass bullshit

[Anonymous No.54369828]

>>54352150
Not even fucking close you dishonest fear mongering retard. Also learn about nuclear power plants before posting bullshit liket this

[Anonymous No.54369847]

>>54364377
They can and they have. The Supreme Court even says it's perfectly legal.
But the US won't have to kidnap CZ. It's as easy as saying:
>Hi, foreign country, USA here! There's a guy we need extradited who has been money laundering for terrorist groups and circumventing sanctions for nationals of a country we're waging a proxy war with.
Here's his address. Please go pick him up and jail him or we'll deem you a state sponsor of terrorism and place sanctions on you. Then you can watch Western capital vanish from your country as if by magic.
CZ will be arrested and extradited.

[Anonymous No.54371868]

>>54369281
tiktok just has the optics, the actual bill ushers in totalitarianism and lets the government see whats on your local network traffic. Pretty imposing against freedom.

[Anonymous No.54372995]

>>54353069
Binance listed hundreds of obvious scams, demanded a million in listing if not huge chunks of supply and then traded against their customers with those coins.

[Anonymous No.54373253]

>>54365147
if that's real, that's one of the dumbest, bravest things i've ever seen
good luck, stranger.

[Anonymous No.54374010]

>>54369847
usa doesn't have this power anymore because they overused it. yuan will be the new world currency and nobody gives a fuck about burgers and their master jews anymore. eventually russia and china will nuke the fuck out of it and it'll be removed from the world stage. don't forget that europe russia and east been around forever while usa only for the last 150 years. we saw lots of empires fall. usa is one of them, and fall already started. it starts with economy, and then dying empire starts to attack everything like a rabid dog, and eventually it get put down by some of the og empires like russia, uk or china. even jew masters starts to position themselves in china. it's over for burgers.

[Anonymous No.54374654]

Should I withdraw?

[Anonymous No.54374681]

>>54352040
Bullish for chainlink

Take your linkies out of binance

[Anonymous No.54374699]

>>54352040
Nobody gives a fuck about the US retard lmaooooooo. You mutt mystery meat pieces of shit are irrelevant

[Anonymous No.54376286]

>>54352082
The US is Just sad that banks are collapsing and they are trying every means to bring crypto down since many have begun to accept crypto payment, Sadly CZ poorfag is just the scapegoat

[Anonymous No.54376689]

>>54352040
Binance is here to stay

[Anonymous No.54376746]

>>54352150
>the US is literally like the USSR was im 1986 - in other words, just before it died
>t.zoomer who never lived anywhere near USSR or ex-communist countries

[Anonymous No.54376821]

>>54352040
This is all a distraction for SBF getting caught and new charges.

[Anonymous No.54376875]

>>54352040
I sent out my last UTK and ELGD holding from Binance just to be safe than been sorry, and It the perfect opportunity that I just stake both on maiar Dex instead

[Cryptos No.54376984]

This thread still up?
>>54368982
>>54373253


It's real
OOPPS i did it again. picrel.
I am being greedy while others are fearful.

like what is being said:
USA is not the world.

my play is: the "top" for BNB is about 325 right now.
I'll swing some of this. still debating on a long term hold/stake.

I am advising Anon's NOT to follow my lead on this.
Price IS dangerously high this morning- your chances of loss are great.
yolo

[Anonymous No.54377448]

>>54352099
checked

[Anonymous No.54377769]

>>54374010
Nobody wants to hold their money in a currency controlled by a commie dictator you dumb putinbot.

[Anonymous No.54377826]

>>54377769
right, so we should just put all the available capital left in this debt-maxxed world into a country that specializes specifically in exporting rape and slaughter around the world so Jews and troons live for free while everyone else suffers at their expense? Yeah, no, fuck that. I hate china and russia just as much. There needs to be a decentralized future that we make for ourselves that dabs on kikes, googks, chinks, troons, fags and niggers equally while promoting the sanctity of the white and casitzo races above all. duh.

[Money Stuff: The Bank Regulators Are Disappointed No.54377825]

Yesterday's Matt-musings.
Bank hearings
We talked the other day about the mechanics of Silicon Valley Bank’s failure. Those mechanics are that a lot of depositors asked for their money back one Thursday, and SVB didn’t have enough money to give them: It ended the day with negative money, and was shut down by its regulators. This is a somewhat weird thing to happen in a modern banking system: Silicon Valley Bank had lots of valuable, safe, liquid assets, and it is a US bank with access to the Federal Reserve. It seems like it should have been fairly straightforward for SVB to pledge those assets to the Federal Reserve to borrow enough money to meet its deposit outflows.

And in fact SVB tried to do that, and it apparently did have enough collateral to borrow enough money to pay out its depositors that Thursday, though I’m not sure it would have survived the weekend. But the problem, that Thursday, was not that SVB had insufficient assets; the problem was that the Fed’s computer systems stopped working at 4 p.m. California time, and SVB missed the cutoff to transfer assets and borrow money. Silicon Valley Bank certainly had financial problems — the Federal Deposit Insurance Corp. finally sold it off yesterday for something like negative $20 billion! [1] — but the reason it failed that day was mostly operational, not financial.

Today the US Senate is holding a hearing on “Recent Bank Failures and the Federal Regulatory Response.” Here are the prepared testimonies of Michael Barr, the vice chair for supervision at the Federal Reserve, Martin Gruenberg, the chairman of the FDIC, and Nellie Liang, the undersecretary for domestic finance at the US Treasury.

[Money Stuff: The Bank Regulators Are Disappointed No.54377845]

>>54377825
Gruenberg’s testimony helps clear up one small mystery of the recent bank failures: What happened to Signature Bank of New York? Signature was taken over by the FDIC the same weekend that SVB was, and while SVB had clearly run out of money, it was less clear that Signature had. Signature board member (and former congressman, author of the Dodd-Frank Act, etc.) Barney Frank complained that Signature was actually doing fine, that its outflows had stabilized, and that “if we’d been allowed to open tomorrow, that we could’ve continued.” But its state regulator said that it had had “a significant crisis of confidence in the bank’s leadership,” and shut it. Since Signature was one of the main banks for the crypto industry, this led to theories that the takeover of Signature was part of a regulatory crackdown on crypto rather than an actual bank failure.

[Money Stuff: The Bank Regulators Are Disappointed No.54377859]

>>54377845
But here is Gruenberg today:

>Subsequently, as word of SVB’s problems began to spread, Signature Bank began to experience contagion effects with deposit outflows that began on March 9 and became acute on Friday, March 10, with the announcement of SVB’s failure. On March 10, Signature Bank lost 20 percent of its total deposits in a matter of hours, depleting its cash position and leaving it with a negative balance with the Federal Reserve as of close of business. Bank management could not provide accurate data regarding the amount of the deficit, and resolution of the negative balance required a prolonged joint effort among Signature Bank, regulators, and the Federal Home Loan Bank of New York to pledge collateral and obtain the necessary funding from the Federal Reserve’s Discount Window to cover the negative outflows. This was accomplished with minutes to spare before the Federal Reserve’s wire room closed.

>Over the weekend, liquidity risk at the bank rose to a critical level as withdrawal requests mounted, along with uncertainties about meeting those requests, and potentially others in light of the high level of uninsured deposits, raised doubts about the bank’s continued viability.

[Money Stuff: The Bank Regulators Are Disappointed No.54377874]

>>54377859
Notice the difference from SVB. On Thursday, SVB tried to move collateral to the Fed to borrow money, but missed the deadline by a few minutes and was shut down the next day. On Friday, Signature tried to move collateral to the Fed to borrow money, and made the cutoff by a few minutes. It was shut down over the weekend anyway, for its own operational problems: “Bank management could not provide accurate data regarding the amount of the deficit.” The problem at SVB is that it ran out of money. The problem at Signature is that it couldn’t figure out how much money it had. I suspect that this is a more common problem at banks than would be ideal, but in any case I guess it’s a good enough reason for the regulators to shut a bank down. If you are a bank and you come to the Fed on a Friday afternoon and say “hey, we are out of money, we need more, and we’re not sure how much money we have or need, can you help us figure it out,” apparently the Fed (1) will help you figure it out and (2) will lend you the money, but you are not opening on Monday.

Meanwhile, the financial story of the failure of SVB is quite straightforward: It had a lot of zero-interest deposits that it invested in long-term loans and (especially) Treasury and agency bonds, and then the Fed raised interest rates rapidly, those loans and bonds lost value, and those zero-interest deposits started looking less stable. Then SVB sold some bonds at a loss and tried to raise capital, which sparked panic among its interconnected network of venture capitalist and startup depositors; they all took their money out and SVB went bust.

[Money Stuff: The Bank Regulators Are Disappointed No.54377889]

>>54377874
The hearing today is intended to help figure out the right regulatory response to keep this from happening again, but in some sense the takeaway is really “the traditional business of banking is very risky when the Fed raises interest rates a lot for the first time in ages.” People got used to low rates, and then rates rapidly became high, and they were caught out. Here’s this:

>Billionaire Andre Esteves, the co-founder and chairman of Brazil’s Banco BTG Pactual SA, said that “any junior analyst” from Latin America would have known how to manage the interest rate risk on Silicon Valley Bank’s balance sheet to avoid its collapse.

>Esteves, speaking at a BTG event in Santiago, Chile, said the volatility roiling global markets is a result of 15 years of complacency during near-zero interest rates that led to widespread excesses. People were caught off guard when rates suddenly spiked and didn’t have the real life experience on how to manage those risks, he said.

His point here is not “SVB were morons and Latin American interns are smart”; his point here is “SVB had 15 years of low and stable interest rates and Latin American interns did not.” If you never encounter interest rate risk, you might forget how to manage it.

[Money Stuff: The Bank Regulators Are Disappointed No.54377902]

>>54377889
The nice thing about this diagnosis is that it is sort of self-resolving. No bank today is going around taking deposits at 0% and using them to buy mortgage-backed securities at 2%, not because they have learned risk management lessons from SVB but because interest rates are already higher. The problems at SVB were not about some weird new form of bank risk-taking; they were about the traditional business of banking being fragile in a sudden transition from low rates to high rates. The solution is to sort of muddle along without bankrupting too many banks until they have all made that transition. And so the Fed’s main response to SVB was to create a new funding program that will let banks continue to ignore their interest-rate losses for one more year: You give the banks another year to muddle through, and figure that whoever successfully muddles through that year will be fine.

[Money Stuff: The Bank Regulators Are Disappointed No.54377914]

>>54377902
Still you can’t go to Congress and be like “yeah raising rates blew up some banks, whaddarya gonna do.” So there will be new rules:

>Top US financial officials on Tuesday outlined what’s likely to be the biggest regulatory overhaul of the banking sector in years, in an initiative aimed at addressing underlying issues that contributed to the collapse of Silicon Valley Bank and other US regional lenders.

>“I anticipate the need to strengthen capital and liquidity standards” for banks with assets larger than $100 billion, Federal Reserve Vice Chair for Supervision Michael Barr said in answering questions at a Senate Banking Committee hearing.

>Federal Deposit Insurance Corp. Chairman Martin Gruenberg said, in his testimony to the panel, that the failures of SVB, as Silicon Valley Bank is known, and Signature Bank “demonstrate the implications that banks with assets of $100 billion or more can have for financial stability. The prudential regulation of these institutions merits additional attention, particularly with respect to capital, liquidity and interest-rate risk.”

[Money Stuff: The Bank Regulators Are Disappointed No.54377929]

>>54377914
There will also be some soul-searching about how SVB was supervised. Here is Barr’s testimony on how the Fed dealt with SVB:

>Near the end of 2021, supervisors found deficiencies in the bank’s liquidity risk management, resulting in six supervisory findings related to the bank’s liquidity stress testing, contingency funding, and liquidity risk management. In May 2022, supervisors issued three findings related to ineffective board oversight, risk management weaknesses, and the bank’s internal audit function. In the summer of 2022, supervisors lowered the bank’s management rating to “fair” and rated the bank’s enterprise-wide governance and controls as “deficient-1.” These ratings mean that the bank was not “well managed” and was subject to growth restrictions under section 4(m) of the Bank Holding Company Act. In October 2022, supervisors met with the bank’s senior management to express concern with the bank’s interest rate risk profile and in November 2022, supervisors delivered a supervisory finding on interest rate risk management to the bank.

>In mid-February 2023, staff presented to the Federal Reserve’s Board of Governors on the impact of rising interest rates on some banks’ financial condition and staff’s approach to address issues at banks. Staff discussed the issues broadly, and highlighted SVB’s interest rate and liquidity risk in particular. Staff relayed that they were actively engaged with SVB but, as it turned out, the full extent of the bank’s vulnerability was not apparent until the unexpected bank run on March 9. …

>We need to ask why the bank was unable to fix and address the issues we identified in sufficient time. It is not the job of supervisors to fix the issues identified; it is the job of the bank’s senior management and board of directors to fix its problems.

[Money Stuff: The Bank Regulators Are Disappointed No.54377941]

>>54377929
I am reminded of the incredible Credit Suisse Group AG report on how it lost billions of dollars trading with Archegos Capital Management. Basically Credit Suisse had risk managers and committees who looked at the Archegos exposure, decided it was too big and too undercollateralized, and told the relationship managers to demand more collateral. The relationship managers called Archegos to demand more collateral, and Archegos kept saying “oh no I’m getting another call, gotta take that, will call you back soon.” Archegos never posted the collateral, and then it collapsed and took billions of Credit Suisse’s dollars with it. Everyone saw the problem, but nobody acted on it with quite enough urgency.

Similarly Esteves is perfectly correct that anyone could see SVB’s interest-rate risk, and the Fed did see it. And the Fed’s staff had meetings with the Board of Governors and told them that rising interest rates were going to be rough on a bunch of banks, but especially SVB. And the board was like “huh so are we doing anything about that,” and the staff were like “oh of course we’re talking to SVB about managing that risk,” and in fact they were. Everyone was talking about exactly the right things; they just weren’t doing enough about them.

[Money Stuff: The Bank Regulators Are Disappointed No.54377959]

>>54377941
Also though, when they did, that’s what broke SVB. Barr again:

>The bank waited too long to address its problems, and ironically, the overdue actions it finally took to strengthen its balance sheet sparked the uninsured depositor run that led to the bank’s failure. Specifically, on Wednesday, March 8, SVB announced that it realized a $1.8 billion loss in a sale of securities to raise liquidity and planned to raise capital during the following week. Uninsured depositors interpreted these actions as a signal that the bank was in distress. They turned their focus to the bank’s balance sheet, and they did not like what they saw.

>In response, social media saw a surge in talk about a run, and uninsured depositors acted quickly to flee.

If you have a bank that is undercapitalized because it lost money on interest-rate moves, the sensible advice is for it to raise more capital, and that’s what SVB did. But that is also what blew it up.

[Cryptos No.54378366]

>>54377825
>>54377845
>>54377859
>>54377874
>>54377889
>>54377902
>>54377914
>>54377929
>>54377941
>>54377959
Holy Fucking Great Wall of Text.
Fucking namefags.

[Anonymous No.54378686]

>>54377826
People don't want to put their cash deposits into imaginary accounting which is what a dictatorship is you dumboid. Sure blame western governments for too much debt but does not change the fact that the $ remains the best fiat. And BTC is not liked by any government so they will just simply ban exchanges and crash the prices. It may be valuable in black makerts but that's about it.

[Anonymous No.54378753]

>>54352040
>Not using based Kraken

[Anonymous No.54380231]

>>54378366
it's obviously a quote from an article with that title (you) mongoloid.

[Cryptos No.54380741]

>>54380231
I know.

***> Joke ***>

( Your Fat Pumpkin Head )

Don't distract me i am reading your blog.

[Anonymous No.54380836]

I <3 china and Binance.

[Anonymous No.54380862]

>>54352040
2 more weeks, kikes

[Anonymous No.54380885]

>>54352040
Binance is a Hong-Kong based company. The United States doesn't have any jurisdiction. They don't even have any subpoena power over CZ or Binance.com. They have jurisdiction over Binance.us, but unless they can prove that Binance.us did something wrong they can't do anything to them either.

This is like the nonsense arrest warrant that was issued for Putin. It sounds like a big deal but it's not.

[Anonymous No.54380910]

>>54355519
>SBF Defense Force out in full

[Anonymous No.54380925]

>>54352040
Binance will outlive the US

[Anonymous No.54381715]

>>54380925
>binance banned in US and soon EU
>already banned in communist shitholes russia and china
yeah such a bright future for liquidity

[Anonymous No.54382907]

>>54368426
>fascisms
Have you even read Gentile?