> When you put money into your checking account, the bank doesn't hold it in a vault, they re-lend it out as mortgages and car loans and small business loans. T

> When you put money into your checking account, the bank doesn't hold it in a vault, they re-lend it out as mortgages and car loans and small business loans. They just do it competently, and under the scrutiny of bank regulators and insurers. A bank CEO can definitely not lend customers' money to themselves with fake assets (shitty tokens) as collateral, likely without intention to repay. SBF was a thief, full stop.