11 Mar 2023 10:09:00
Dont' trust crypto they say but trust the banks they say. SVB could be the 2nd biggest US bank to collapse. Mainly tech customers in silicone valley I expect but I'm sure it'll be blamed somehow on cryptocurrency by someone in the banking sector. Surely this has something to do with Biden, Gensler or even SBF connected in some way.

{Ed033's Note - They don't like the stable coins i suspect [except Tether?]. USDC lost 12% of its value, and on Monday, we might see what the exact damage will be. BUSD also took a hit as it is part of USDC, but i suspect Binance has the funds to cover the loss to keep BUSD at $1. I don't know much about the situation or stable coins mind.

1.) 11 Mar 2023
11 Mar 2023 13:01:04
i forgot to put that SVB Bank holds several billion dollars backing USDC.

2.) 11 Mar 2023
11 Mar 2023 13:50:17
It's strange ed as again Blackrock is involved with Circle and USDC as far as I'm aware. Also Coinbase involved with USDC. It's hard to work out whether it's Blackrock intentionally doing it or someone or something getting at Blackrock. The next could be Signature Bank which is the 3rd crypto friendly bank behind Silvergate and SVB.

Is it intentional against crypto's what with the implementation of ISO20022 due this month (pushed back from Nov 2022) and the XRP case coming to a resolution/close?

New York state has filed some sort of suit against KuCoin (not american by any stetch of the imagination but they trade XRP, I presume available to Americans) and claiming ETH to be a security this week which I find bizarre. Something big is getting stirred to stop the use of crypto in the US imo which doesn't have a lot to do with the run on these banks.

{Ed033's Note - If they can push prices of Crypto right down and demoralise people already in Crypto into getting out, they [Blackrock] can buy low and buy lots of Crypto,