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The title and article body claim that they hold a bank license but as far as I can see[0] they only have a license as a financial service provider (FDI) for inv

The title and article body claim that they hold a bank license but as far as I can see[0] they only have a license as a financial service provider (FDI) for investment brokering (Anlagevermittlung) and proprietary trading (Eigengeschäft). In particular they are not regulated as a bank with capital requirements (CRR-Kreditinstitut) and can't do their own lending business (Kreditgeschäft). On their website[1] they make no claim of being a bank. The text only speaks about being a "regulated financial institution" and the footer states "unbank" and "no bank". Their terms of use[2] clearly state that they are only a credit broker, don't loan themselves, and are not party of the loan contract. This is not banking and I'm not sure why Reuters uses that word so much. They don't even mention once that this company is not the lender and heavily imply they are. [0]: in the database of the German Federal Financial Supervisory Authority: https://portal.mvp.bafin.de/database/InstInfo/institutDetails.do?cmd=loadInstitutAction&institutId=146194&locale=en_GB https://portal.mvp.bafin.de/database/InstInfo/institutDetail... [1]: https://www.bitbond.com/about_us https://www.bitbond.com/about_us [2]: https://www.bitbond.com/terms_of_use https://www.bitbond.com/terms_of_use

sschueller 8y ago
So much for accuracy of Reuters. What else do they get wrong when they can't even tell when something is a bank or not? Sad thing is these kinds of articles get translated and end up in hundreds of papers all over the world all as fact.
- turnermatt 8y ago
  Google “Thomson Reuters Blockchain” to find out why
- Theodores 8y ago
  What is also funny is when you have an obvious spelling mishtake in a Reuters article and for that spelling mistake to be copied and pasted into many, many places. In this way you can tell which newspapers actually have people reading what they publish and which ones can't be bothered.
- AznHisoka 8y ago
  I always assumed everything in reuters was written by bots.
- ataturk 8y ago
  Well, don't you think there is a vested interest among certain parties to make any and all attempts to legitimize this crypto-trash? There's billions of dollars at stake. I have this former colleague whom I email occasionally for shits and giggles. He believes he's an Ethereum millionaire and never hesitates to bring it up every time we trade messages. It's goddamn infuriating the way these people carry on. Yeah, MAYBE he's a millionaire, and maybe next week the whole thing implodes, too.
- dawhizkid 8y ago
  If you've ever read an article about something you know really well (company you work for, someone you personally know well, topic you are an expert in), I think you'll find that in most news articles there are exaggerations/questionable numbers printed all the time.
  - dbasedweeb 8y ago
    And then the Gell-Mann Amnesia kicks in! “Briefly stated, the Gell-Mann Amnesia effect is as follows. You open the newspaper to an article on some subject you know well. In Murray's case, physics. In mine, show business. You read the article and see the journalist has absolutely no understanding of either the facts or the issues. Often, the article is so wrong it actually presents the story backward—reversing cause and effect. I call these the "wet streets cause rain" stories. Paper's full of them. In any case, you read with exasperation or amusement the multiple errors in a story, and then turn the page to national or international affairs, and read as if the rest of the newspaper was somehow more accurate about Palestine than the baloney you just read. You turn the page, and forget what you know.” https://www.goodreads.com/quotes/65213-briefly-stated-the-gell-mann-amnesia-effect-is-as-follows-you https://www.goodreads.com/quotes/65213-briefly-stated-the-ge...
atmosx 8y ago
Indeed. Thanks for the info. As far as I know, Reuters isn't big on aiding pump-and-dump schemes but this sure looks like it.
- tim333 8y ago
  If you look at their reviews they seem quite bad https://uk.trustpilot.com/review/www.bitbond.com https://uk.trustpilot.com/review/www.bitbond.com however I don't think they have a stock/coin/token to pump or dump.

sschueller 8y ago

So much for accuracy of Reuters. What else do they get wrong when they can't even tell when something is a bank or not? Sad thing is these kinds of articles get translated and end up in hundreds of papers all over the world all as fact.

turnermatt 8y ago
Google “Thomson Reuters Blockchain” to find out why
Theodores 8y ago
What is also funny is when you have an obvious spelling mishtake in a Reuters article and for that spelling mistake to be copied and pasted into many, many places. In this way you can tell which newspapers actually have people reading what they publish and which ones can't be bothered.
AznHisoka 8y ago
I always assumed everything in reuters was written by bots.
ataturk 8y ago
Well, don't you think there is a vested interest among certain parties to make any and all attempts to legitimize this crypto-trash? There's billions of dollars at stake. I have this former colleague whom I email occasionally for shits and giggles. He believes he's an Ethereum millionaire and never hesitates to bring it up every time we trade messages. It's goddamn infuriating the way these people carry on. Yeah, MAYBE he's a millionaire, and maybe next week the whole thing implodes, too.
dawhizkid 8y ago
If you've ever read an article about something you know really well (company you work for, someone you personally know well, topic you are an expert in), I think you'll find that in most news articles there are exaggerations/questionable numbers printed all the time.
- dbasedweeb 8y ago
  And then the Gell-Mann Amnesia kicks in! “Briefly stated, the Gell-Mann Amnesia effect is as follows. You open the newspaper to an article on some subject you know well. In Murray's case, physics. In mine, show business. You read the article and see the journalist has absolutely no understanding of either the facts or the issues. Often, the article is so wrong it actually presents the story backward—reversing cause and effect. I call these the "wet streets cause rain" stories. Paper's full of them. In any case, you read with exasperation or amusement the multiple errors in a story, and then turn the page to national or international affairs, and read as if the rest of the newspaper was somehow more accurate about Palestine than the baloney you just read. You turn the page, and forget what you know.” https://www.goodreads.com/quotes/65213-briefly-stated-the-gell-mann-amnesia-effect-is-as-follows-you https://www.goodreads.com/quotes/65213-briefly-stated-the-ge...

atmosx 8y ago

Indeed. Thanks for the info. As far as I know, Reuters isn't big on aiding pump-and-dump schemes but this sure looks like it.

tim333 8y ago
If you look at their reviews they seem quite bad https://uk.trustpilot.com/review/www.bitbond.com https://uk.trustpilot.com/review/www.bitbond.com however I don't think they have a stock/coin/token to pump or dump.