Crypto is an easy scapegoat for the recent bank meltdowns. But there’s more to the story.
Highlights
- The collapse of Silicon Valley Bank is a function of Government policy, says Frida Ghitis.
- The U.S.
- forced banks to buy their debt as Tier 1 capital and then debased it, Ghitis says.
- Regulation has forced industries to concentrate their banking and generate banks with undiversified client portfolios by draconian AML/KYC/risk modelling.
- Ghitis: Regulators have long since told banks “to buy our flipping government debt, or else, it’s triple AAA and has never defaulted, this is what your reserves need to be made of” He says regulators can fix their blunders because they are the wizards of the magic money tree we all put in and with a wave of a digital wand make it all good again.
Read the original article
Fortnite's Epic Has 'Close to 20' Crypto Games in Store Pipeline