FDIC says banks can engage in crypto activities without prior approval

tetromino_ · 2025-03-28T21:48:55 1743198535

Empirically, banks which get involved with crypto tend to blow up: https://www.bitsaboutmoney.com/archive/debanking-and-debunki...

How should one keep track of whether one's banks have non-negligible crypto exposure, so that one may move one's money to safer institutions well in advance of the inevitable disaster?

Lerc · 2025-03-28T22:00:08 1743199208

Empirically, a lot of early ventures into any area tend to blow up.

The first people to try are, almost by definition, the risk takers.

That is not to say they all blow up, or even that the ones that blow up do so because of this particular venture. Just high risk taking is correlated with both blowing up and trying the new thing first.

They may blow up from some completely unrelated risky venture.

Analemma_ · 2025-03-28T21:55:58 1743198958

You can't, that kind of transparency would be job-killing strangulation of business, and probably also DEI or something. So you have to just guess, and accept that you're fucked if you guess wrong. Enjoy!

viraptor · 2025-03-28T21:43:30 1743198210

> so long as they manage their risks appropriately.

How is this part enforced? Self review?

tehjoker · 2025-03-28T22:01:34 1743199294

It's crazy how America is just devolving into an interlocking set of ever more obvious financial scams.

miohtama · 2025-03-28T21:18:24 1743196704

For the context, here is the Financial Services Committee hearing on the topic, and what led to these events

https://financialservices.house.gov/news/documentsingle.aspx...

newobj · 2025-03-28T21:46:03 1743198363

What could possibly go wrong

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