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Signature Bank didn't collapse. It got killed. [SEC Vs Crypto]
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Topic: Signature Bank didn't collapse. It got killed. [SEC Vs Crypto] (Read 211 times)
franky1
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Re: Signature Bank didn't collapse. It got killed. [SEC Vs Crypto]
March 28, 2023, 02:08:11 PM
#21
the "debit card" services are not at risk as each debit card given to customers of a service is an account of value under $250k thus has no risk.. due to the CFID insurance threshold
however the big businesses that have large accounts. is the risk. and DCG know it which is why they are rushing to diversify their fiat accounts(yep dcg done a bank run to split funds over more accounts of their corporate value)
its not about individual customers of crypto businesses. its instead about the crypto businesses that co-mingle custodianised funds. either of customers deposits or corporate cashflow
as for gemini
by gemini taking customer funds, co-mingling them into larger stashes but only having one investment plan (genesis) is a fault by gemini
gemini want to blame customers or blame DCG.. but it was gemini that took customers funds where
gemini set the rule
to only invest in genesis(no diversity)
gemini CHOSE genesis and locked funds into genesis. so gemini is not innocent. they too decided stupidly to choose only one investment plan. much like fiat banks were dumb to invest in 1% bonds.
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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