1/ FTX blows up and crypto-sceptics everywhere wear their 'told you so' face. Ditto any crypto-linked fraud headline.

Remember how Bernie Madoff wiped out $65bn in 2008? That was a trad fi fraud, denominated in USD.

2/ Fraud is committed by fraudsters, not by money itself, whichever form it takes. The dollar is still the world's favourite currency for crime.

The silver lining of these disasters in crypto is how quickly these things fail, leaving room for healthier growth, much faster.

3/ Crypto is here to stay, and I am proud to run a business committed to supporting the growth of this industry through essential infrastructure, with governance and compliance at the forefront of the strategy.

4/ BCB remains unaffected directly, with no liquidity or credit exposure to FTX, but we are of course subject to the same market conditions as everyone else and are making sure we're ready for an extended period of difficulty in this industry and in the wider economic pressure.

5/ Our reactions last week were swift and decisive, with ongoing preventative measures as the contagion unfolds.

For those who are affected, my sincere condolences to all those whose lives, careers or businesses have been wrecked by this crime.

6/ For any BCB clients or prospects concerned about our own 'proof of reserve', a reminder that we are not a credit institution able to use customer funds for lending etc.; we are a payments institution where the only way we can physically operate is on a 1:1 safeguarded basis.

7/ Keep building, stay focused, this storm will pass.