- Apr 8, 2002
- Basic Beliefs
- An accurate worldview or philosophy
I don't see how that contradicts with anything I said. Crypto bullshitters like FTX deserve to crash and burn. I wouldn't touch them with a 10-foot pole. And obviously, if a regular bank would do the same, they'd endanger their customers' savings and the damage would be even worse.Steve is correct. The FDIC would not allow a bank to make the crazy investment that FTX did. The comparison to 2009 is faulty. They crypto investments are gone. No recovery. Many of the bad loans from 2009 were paid back (often when the home sold or was foreclosed).Hey, I'm just interested in the tech. I have no clue if crypto is a good investment.
I got some cryptos around somewhere but I take the attitude that it's worth nothing, and maybe will check again in decade or two.
But I was talking about banks being in a good position to provide custodial services, maybe act as trusted crypto exchanges. Not dabble with "to the moon" investment schemes.