'Ludicrous' idea that Signature Bank's collapse was connected to crypto, says NYDFS head
cointelegraph.com/news/ludicrous-idea-that-si...
cointelegraph.comPosted Apr 5, 2023, 9:50 PM UTC
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cointelegraph.comGreat to see people in influential positions speaking the truth for a change.
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Can't believe they would try to shift blame. It's super out of character for the bankers.
/s
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“Rumors that the bank’s crypto ties were its core issue were stoked by former U.S. Representative Barney Frank, who served as one of Signature’s board members.”
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Fuck Farney Brank. All my homies hate him.
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It's Worth mentioning that he is THE Frank in the 'Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010'!
Rules for thee! not for me!
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She reportedly described the events leading up to the failure of Signature as a “new-fashioned bank run”, dismissing any relation to crypto exposure as “ludicrous.”
Yepp, I think 6.2 mio member of this sub would agree!
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She has our full on support.
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We may agree. But the notion that crypto caused it has become the clarion call of the anti-crypto crowd.
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She is right about the bank run but Operation Choke point 2.0 did happen.
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It is ludicrous but the average joe doesn’t know enough about crypto to disprove it
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It makes me chuckle when banking officials use terms like “ludicrous”
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It's good that they aren't letting the banks get away with it by scape goating crypto
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It's good that they are publicly stating that but even if the government caused the bank run they wouldn't actually acknowledge it would they? 🤔
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tldr; Adrienne Harris, superintendent of the New York Department of Financial Services, or NYDFS, has reportedly said the closure of the crypto-friendly Signature Bank in March had nothing to do with exposure to digital assets. Harris also pushed back against the idea that the US government was actively working to limit certain industries' access to US banking services.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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Of course they blame it on crypto
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Was due to Ludacris crap the bank did... no one watching risk and of course wasting millions on woke crap like Pronouns....
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Bankers be banking
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Don't use Us as a scapegoat. Psychos....
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This is what happens when banks made their business models over debt, and people couldn't afford to pay their debts. The money is a faux representation of the system, the debt is the real asset here, despite it being a liability.
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It is ludicrous. But it's better to blame crypto than the fractional banking system.
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Adrienne Harris reporting the truth.
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When I first glanced at the title I thought it was the rapper lol
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Once more for those at the back:
0% IN RESERVE
Chokepoint 2.0 can choke on it
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