Crypto Owners May Get Priority in the Event of Bank Failures
1y 11d ago by lemmy.zip/u/BrikoX in usa@midwest.social from jacobin.com
The US Senate is poised to pass a financial deregulation bill ensuring that when a bank goes out of business, the savings of cryptocurrency owners would be made whole before those of other bank customers.
Why should speculators be made whole first?
Because we live in capitalist dictatorships.
Because the president is literally running a crypto scam
Do gamblers next
He did that for some Russians already. They got money laundered in a casino and trump got bankrupted. The art of the deal.
Nice 👍
Jacobin once again completely misunderstand what it is talking about. A stable coin is not a speculative asset. These are meant to be pegged to the currency they represent (USD, here). This is explicitly talking about the issue of the stable coin, not the holding entity. Why would these banks be issuing their own versions of stable coins, when there's already a bunch of them out there?
This has nothing to do with people gambling on memecoins
Why not speculative asset if speculative-asset-shaped?
It's not speculative...