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Someone correct me if I’m wrong, but I don’t believe banks are allowed to lever at the multiples necessary to offer a 4% interest rate (the collateral requireme
by runawaybottle 5y ago
Someone correct me if I’m wrong, but I don’t believe banks are allowed to lever at the multiples necessary to offer a 4% interest rate (the collateral requirements are prohibitively too high).
Coinbase is not a bank and doesn’t have to play by these rules.
- cwyers 5y ago> Coinbase is not a bank and doesn’t have to play by these rules. Which is why this whole thing is such bullshit. Coinbase: Hey, SEC, we're just giving you a heads-up that we're going to start doing something that's not in your jurisdiction. It's a loan! SEC: Oh, so you're doing banking? Coinbase: Nope, we're not a bank, we don't have to follow banking regulations. SEC: ...get back in here.