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Hell no. Becoming a bank means being heavily regulated, which is obviously not good for their biz.
by mrjin 4y ago
Hell no. Becoming a bank means being heavily regulated, which is obviously not good for their biz.
- skissane 4y agoWhat if they bought a bank? If you have a bank as a subsidiary, obviously the subsidiary is heavily regulated-but is the same true for the non-bank parent company?
- blibble 4y agothe change in control will trigger all sorts of regulatory interventions
- paraselene_ 4y agoDidn't FTX do something similiar in the US?
- coffeebeqn 4y agoThey bought a tiny bank in WA and like 10x’d their deposits overnight. I think they were going to use it for some kind of money laundering or some other scheme
- deleted 4y ago[deleted]