because a fool and his crypto are soon parted ...
Not your keys, not your crypto!
I'd rather place my money under my mattress. Because then it would be mine and not theirs.
The customers thought they were ‘beating the system’ with uninsured ‘investments’ paying 8%, almost exactly the same scam as Bernie Madoff customers who, essentially, said “I don’t care how you make the money, just give me the returns you’re promising”. Oh well, no more returns...and no more principal, too.
My question is “If they still have $4.2 billion in deposits, why are they bankrupt?”
Anyone who0 puts real currency into crypto is committing financial suicide.
It has become a woke radical non currency.
Your bag of silver is no longer fungible.
WAKE UP YOU ESTUPIDO CRYPTO “INVESTORS”. You would do better gambling in Las Vegas.
Kind of like your savings account belonging to the bank?
Pretty crazy?
The bottom line with crypto is that it has zero intrinsic value. The only reason it skyrocketed for a while was because of the irrational herd mentality causing millions of people to keep investing in it because it was “going to the moon.” It was a classic bubble based upon nothing.
The only way that it might at some point have actual value is if one of the hundreds of crypto companies out there (most likely Bitcoin or Ethereum) becomes widely accepted as an alternative payment medium. It’s not enough for these vapor “coins” to be considered alternative stores of value, they have to be able to go to the next level by becoming as universally accepted for payment as are official currencies. Only then will these things have any real value.
crypto is just another form of wealth representation.
swap ‘crypto’ with ‘dollars’ or ‘shares’ and you quickly see how this is not Constitutionally valid.