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A couple of billion in liquid assets is a pretty low bar that includes lots of corporate treasuries that hold custodial accounts that aren’t nearly as regulated
by kasey_junk 4y ago
A couple of billion in liquid assets is a pretty low bar that includes lots of corporate treasuries that hold custodial accounts that aren’t nearly as regulated as a bank.
Basically every sizable payment processor for instance meets that bar and it’s incredibly rare to have a scandal with those institutions.
- roenxi 4y agoI'm not saying there will be a scandal, I'm saying they won't leave assets sitting around the way people seem to want a model stablecoin to. Fractional reserve banking isn't a scandal, it is routine business.
- rglullis 4y agoThey are not a bank to make loans. They are custodians of money minted and backed by the US government.