drgo on Nostr: I don’t understand why SAB 121 wouldn’t be satisfied by not rehypothecating or ...
I don’t understand why SAB 121 wouldn’t be satisfied by not rehypothecating or selling deposited bitcoin.
I get it that if I deposit $100 worth of dollars the bank doesn’t hold it, they buy something with that money. But with bitcoin I would expect bank to be a mere custodian, not the owners of the bitcoin with debts to depositors denominated in bitcoin.
Published at
2025-02-06 03:52:53Event JSON
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"content": "I don’t understand why SAB 121 wouldn’t be satisfied by not rehypothecating or selling deposited bitcoin. \n\nI get it that if I deposit $100 worth of dollars the bank doesn’t hold it, they buy something with that money. But with bitcoin I would expect bank to be a mere custodian, not the owners of the bitcoin with debts to depositors denominated in bitcoin.",
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