Article

2023-03-12 Economy

Cryptocurrency chaos: Silicon Valley Bank collapse triggers USDC crash

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Posted by Fred 2023-03-12 00:00|| || Front Page|| [8 views ] Top

#1 Deep dive on SVB issues

https://www.2ndsmartestguyintheworld.com/p/long-and-variable-lags

Posted by Slenter Panda4300 2023-03-12 06:05|| 2023-03-12 06:05|| Front Page Top

#2 Now Elon Musk says he's 'open to the idea' of buying crisis-hit Silicon Valley Bank and turning Twitter into a digital bank

Posted by Skidmark 2023-03-12 10:04|| 2023-03-12 10:04|| Front Page Top

#3 As for Tether: "The Wall Street Journal said Friday that the stablecoin issuer and its partner exchange Bitfinex falsified documents and opened accounts under different names in a bid to gain access to the global banking system... Tether and Bitfinex turned to false documents and shell companies after Wells Fargo stopped processing transactions from its Taiwanese bank account in 2017, the report said."

Tether is a key player in crypto because of its USDT stablecoin, which traders turn to as a place to park their cash in times of high volatility because its value is fixed at $1.

Posted by Slavising Unineting5672 2023-03-12 10:59|| 2023-03-12 10:59|| Front Page Top

#4 Warren Buffet (I'm no friend) called derivatives "financial instruments of mass destruction." He was not wrong.

Cybermoney is financial neutron bomb.

Posted by M. Murcek 2023-03-12 11:06|| 2023-03-12 11:06|| Front Page Top

#5 I loved Chris Whalen's recent comment that crypto shouldn't be "dignified" by regulation but should be handled by the state's gaming commission.

Posted by DooDahMan 2023-03-12 11:14|| 2023-03-12 11:14|| Front Page Top

#6 A very close friend lost her job on March 2nd because the bitcoin company she worked for was raided by the FBI. They raided the owner's home and the home of his attorney. Seems they had a bunch of unlicensed kiosks in Ohio and were keeping this operation off the books. She was an account but had no knowledge of the illicit kiosks. Thank God she is in the clear. Now we are in the same unemployed boat.

Posted by Deacon Blues 2023-03-12 17:53|| 2023-03-12 17:53|| Front Page Top

#7 Accountant. I need more coffee, the time change messes me up.

Posted by Deacon Blues 2023-03-12 17:56|| 2023-03-12 17:56|| Front Page Top

#8 So... a competitor to paypal?

Posted by Percy Flotle3938 2023-03-12 21:18|| 2023-03-12 21:18|| Front Page Top

#9 So... a competitor to paypal?

Posted by Percy Flotle3938 2023-03-12 21:19|| 2023-03-12 21:19|| Front Page Top

23:38 Skidmark
23:09 DooDahMan
23:06 DarthVader
22:43 trailing wife
22:21 Xyz
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21:19 Percy Flotle3938
21:18 Percy Flotle3938
20:16 Vortigern Omoluque9456
19:52 ed in texas
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19:15 lord garth
18:57 Anomalous Sources
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18:11 Super Hose
17:56 Deacon Blues
17:53 Deacon Blues
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17:38 Frank G
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15:59 DarthVader
15:50 Super Hose
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