The Federal Reserve will pay to cover billions in losses at Silicon Valley’s favorite bank

:capitalist-laugh: :brrrrrrrrrrrr:

  • SerLava [he/him]
    ·
    2 years ago

    They were giving literal personal kickbacks to business owners in the form of hyper low interest personal mortgages in exchange for keeping uninsured business funds in their bank. Not even kidding

    • The_Walkening [none/use name]
      ·
      2 years ago

      IIRC one of the big functions of these tech banks was letting cryptobros exchange their holdings outside of Blockchain records. Which defeats the purpose of the Blockchain altogether.