/biz/ - Business & Finance

[Anonymous No.55394545]

https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230623_1~80751450e6.en.html
>The recent failures of Silvergate Bank and Signature Bank have highlighted the risks for banks associated with raising deposits from the crypto sector
The world is such an interesting place when you understand it. To a layperson, this sentence reads as "Silvergate and Signature took on risky crypto and when crypto crashed they went insolvent and shut down". Which is exactly how you're supposed to read it.
But the reality, which also can be read from the exact same sentence if you know what actually happened is "Silvergate and Signature got intentionally sniped by regulators who were trying to damage the crypto ecosystem and thought taking out their tradfi rails would be a deathblow".
Interested to see the ECB still clinging hard to this doublespeak rearguard action even as the US regulators start to show weakness in the courts.
Then again, if the world was run by horse breeders when the car came along I'm sure it would be the same show.

[Anonymous No.55394554]

>This would compromise monetary sovereignty,
aka us being exclusively in charge
>financial stability
aka us being exclusively in charge
>and the smooth operation of the payment system.
aka us being exclusively in charge

[Anonymous No.55394571]

>>55394545
Thread is way too interesting and detailed. Next time use a Twitter screencap of a literal who disliking young white men or a picture of Pepe living the good life because he bought an erc20 token.

[Anonymous No.55394581]

Respect anon this deserves more views. Bump

[Anonymous No.55394597]

>>55394554
if thats from the ecb thats pure butthurt. they know offered the choice between the queero and a rock solid usdt, 99% of europoors would rather just hold usdt instead of their shitty euro.

usdt and other backed dollar stablecoins are actually beneficial to the US because it means all the chinkenese and europoors can easily hold the usd by proxy driving up demand for dollars.

in short, fuck the euro, fuck the gbp, fuck the yuan, and fuck the usd because its also gay

[Anonymous No.55395077]

>>55394597
>99% of europoors would rather just hold usdt instead of their shitty euro.
euro has gained 14% against the usd since october but it lost 23% from may 21 to october 22. in forex it really depends on market timing. trust me we dont care about holding usd stablecoins we just do it because that's where all the liquidity is. if there was a liquid chft market i would rather hold chf stablecoins than usdt.

[Anonymous No.55395902]

>>55395077
>if there was a liquid chft market
yes but there isnt