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#CustomersBank AKA #CUBI is on a mission to relive the Savings & Loan crisis of the 1980s... They're trying to keep their deposit base high enough to stay solvent by hiking the interest rates they pay but that means ballooning costs.

Worth noting that #CUBI is one of the last #crypto friendly banks in the United States... basically a mini-me of #SignatureBank / #SBNY. Will meet the same fate.

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#TheCryptocalpyseChronicles: How Everyone Is Getting The Story Of Silicon Valley and Signature Bank Completely Wrong

(And other incomprehensible things, like #Coinbase's banking partnerships)

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https://cryptadamus.substack.com/p/how-everyone-got-the-story-of-silicon
#SVB #SIVB #SiliconValleyBank #SignatureBank #SBNY #SI #SilvergateBank #Coinbase #COIN #cryptocurrency #crypto #SigNET #Bank #banking #banks

Signature Bank CEO in 2018: “In five years a number of banks will not be around because of blockchain technology.” Turns out he was right, just not for the reasons he thought. #crypto #sbny #silvergate

Labeling the relief as relief for depositors is a step in the right direction. Bail out the victims, not the failures. #SVB #SBNY

#Binance announces retail customers will not able to deposit or withdraw USD funds with SWIFT as of February 1st. In other words the larges #cryptocurrency exchange in the world (10x the volume of the second biggest exchange) was or is about to be cut off from the global financial system.

Binance's bank is #SignatureBank (#SBNY). See my pinned post for color and background on #SBNY. They are probably getting heat because of the #Hydra darknet market -> #Bitzlato -> #Binance flow of drug money and ransomware funds.

(personally I have my doubts it will stay operational til February)

Why does the "not yet officially bank-permissible" non-SWIFT blockchain based payment network built by Signature Bank appear on the rather insane looking diagram the very recently indicted organized crime company Nexo has proferred to answer the eternal question:

"Where does the yield come from?"

#SBNY #Nexo

@JLHarwell in broad strokes current market sentiment is that everyone knows Silvergate is probably going to get seized by the government (and soon) but few have caught on to the fact that #SBNY did basically the exact same things in if anything larger volumes.
This video is worth watching. Start at ~11:00 for the good stuff.
https://www.youtube.com/watch?v=WTMZw3R9X8A

Signature Bank, FTX, and TrueUSD: A Tale of Questionable Judgement

A timeline of the intermingled histories of #FTX, #Binance, and their banking partners #SBNY and #Silvergate (#SI).

#TrueUSD #BUSD #PrimeTrust #Stablecoin #Bank
https://cryptadamus.substack.com/p/signature-bank-ftx-and-trueusd-a

@JLHarwell it is indeed scary. also interesting is who is willing to be #Binance's banker in the US (answer: #Silvergate #SI and Signature #SBNY)

some more color on both, who are both linked to #FTX and Binance and are each doing roughly a trillion dollars a year on their private unapproved payment networks.
https://cryptadamus.substack.com/p/signature-bank-ftx-and-trueusd-a