Jerico
493 posts

Jerico
@JericoHCF
Youtuber:https://t.co/m22TgFy7qE Twitch:https://t.co/0SMmDQZijF

Got some internet this morning! Big travel day back to the U.S. for me. I’ve done some cruising of the markets and headlines. Hot dang… what have you all done!? 😂

The whole premise of fractional reserve banking is flawed. It's a confidence game and rumors spread fast these days. Ordinary people should not have to constantly DD their banks. Fortunately, there is a type of bank that just vaults cash. Unfortunately, Feds are blocking it. decrypt.co/122525/custodi…




The remaining 23% ($9.7bn) is in cash. Last week, we took action to reduce bank risk and deposited $5.4bn with BNY Mellon, one of the largest and most stable financial institutions in the world, known for the strength of their balance sheet and as a custodian. $3.3bn of USDC’s cash reserves remain with SVB. As of Thursday, we had initiated transfers of these funds to other banking partners. Though these transfers had not yet been settled as of close of business Friday, we remain confident in the FDIC’s management of the SVB situation and stand ready to receive these funds. $1bn of the USDC reserves is held with Customers Bank as the industry looks to expand their transaction settlement options, and Circle maintains transaction and settlement accounts for USDC with Signature Bank. Both are important banks to the digital asset industry. USDC has zero exposure to Silvergate; we had transferred out what were limited reserves to support transaction settlement with USDC prior to bank closure.





How is your day going?





$XRP BREAKOUT IMMINENT 🚨📈 Few have doubted my falling wedges and lived to tell the tale..








