BTCNews on Nostr: Former representative Barney Frank of Dodd-Frank fame says Signature Bank was not ...
Former representative Barney Frank of Dodd-Frank fame says Signature Bank was not solvent and was shut down to send anti-crypto message to all banks
@jenwieczner / @NYMag
https://btcnews.today/2023-03-16/1228#1228
#bitcoin
"... why did they react so harshly to what they said was our inability to give them the sufficient data? I believe it was probably to send the message that even though we were doing crypto stuff responsibly, they don’t want banks doing crypto. They denied that in their statement, but I don’t fully believe that. I think that they overreacted to what they saw was our problem with data, which may well have existed, but the data was improving. I think sloppy data is not a reason to close a bank that you have not decided was insolvent, and they’ve never said we were insolvent."
@jenwieczner / @NYMag
https://btcnews.today/2023-03-16/1228#1228
#bitcoin
"... why did they react so harshly to what they said was our inability to give them the sufficient data? I believe it was probably to send the message that even though we were doing crypto stuff responsibly, they don’t want banks doing crypto. They denied that in their statement, but I don’t fully believe that. I think that they overreacted to what they saw was our problem with data, which may well have existed, but the data was improving. I think sloppy data is not a reason to close a bank that you have not decided was insolvent, and they’ve never said we were insolvent."