"People should be allowed to think of their bank deposits as theirs...when you make more than a $250k deposit to a bank you're making an unsecured loan to a leveraged counterparty that might fail."Custodia's Caitlin Long explains what's next for ba
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- Mar 20, 2023
- #Finance #Banking #Cryptocurrency
"People should be allowed to think of their bank deposits as theirs...when you make more than a $250k deposit to a bank you're making an unsecured loan to a leveraged counterparty t...
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Lyn Alden @LynAldenContact
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Mar 20, 2023
Good interview with @CaitlinLong_ by @KellyCNBC. -Caitlin’s bank Custodia wanted to back all deposits with reserves but was denied by the Fed. -The reluctance to allow and formalize stablecoins domestically has increased market share for offshore stablecoins.