Hi Platinum Followers,
Today’s video covers major crypto market news starting with The Bank of America just closing an account of the former CFO of PayPal without an explanation, fitting into the current narrative of BANKS vs BITCOIN.
There has never been a better time for alternatives to the traditional banking institutions based on Fiat currency with the Lebanon banking association agrees on a $1,000 weekly withdrawal cap from accounts. But they’re not “capital controls” This comes after banks have been closed for almost a month straight.
Comments from the ex-CEO of Switzerland’s two largest banks recently said, “Negative interest rates are crazy. That means money is not worth anything anymore” Yet, no one is doing anything about it. Increasing the need for alternative options.
In stark contrast to the current globals banking issues mentioned previously, we see President Putin addressing the elephant in the room of the USA weaponising the Dollar.
“We see attempts to use the dollar as a political weapon. I think this is another very big mistake, ”the head of state said.
He noted that earlier the dollar enjoyed great confidence around the world and was considered a universal world currency.
“For some reason, the United States began to use dollar settlements as an instrument of political struggle, to introduce restrictions on the use of the dollar, to cut the branch on which they sit with their own hands. Soon they will crash, ”Putin concluded.
As mentioned with past events highlighting the instability of banks, it is no surprise that Millennials are considering other forms of storing wealth. The majority (68%) of Millennials would strongly consider leaving their traditional banking relationships and swapping to a tech company’s digital banking and payment services – Facebook, Google, Apple and Amazon offerings. Quite a stark contrast with only 32% of Baby Boomers ready to make that same shift from their current banks
I also explore the new concept of decentralised finance. Compound Raises $25 Million to Expand Crypto Lending: At a time when high-interest savings accounts are languishing Instead of storing money with a bank, A growing number of investors are seeking high yield who have turned to Compound, a startup that’s part of an exotic industry known as decentralized finance.
Other news –
Ledger’s Vault Scores $150 Million in Crypto Insurance From Lloyd’s Syndicate
Northern Trust Testing Fractionalized Bonds on Blockchain.
Hopefully, you have enjoyed today’s article. Thanks for reading!
Have a fantastic day!
Live from the Platinum Crypto Trading Floor.
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