With the SVB debacle, and with the recent signs of an apparent bull run on the horizon, it is now possible to conclude that crypto has resolved many of its previous issues, whereas fiat has not.
As a result, crypto may indeed be a safer option at this point, which both depositors and investors should consider as they are reminded yet again that their deposits belong to the bank, and that the bank can do whatever it wants with that money, including investing in crashing bonds which result in depositor losses.
Moreover, despite the fact that the largest US banks are making over $100 billion in profits per quarter, if they are indeed gambling in the bond or stock markets, even huge profits may not be enough. This was the case of SVB, which collapsed with tens of billions in deposits and, crucially, no one really knows why this happened with absolute certainty.
In contrast, not only is everyone in crypto in charge of their own assets but the community also quickly identifies what is and is not affected in these types of situations, as well as how far it might all reverberate. Crypto is thus now arguably safer, whereas in fiat we do not yet know the full effects of the rapid increases in debt costs, which have most likely not yet fully cleared through the system either.
Is Crypto Indeed A Safer Option Than Banks Now
Subscribe to the CryptoWeekly Newsletter
Get the top stories, funding deals, technical analysis, cryptocurrency jobs and much more delivered to your inbox, every Monday morning.
October 21,2024
Crypto Tax Cuts Will Happen In Japan If DPP Wins Upcoming Election
October 21,2024
Signs Of An Overheated Market As Crypto Fear And Greed Index Hits 73
October 21,2024
Web3 Fundraising Deals - 15th To 21st October 2024
October 20,2024
CBOE And NYSE Spot Bitcoin ETF Applications Finally Approved By The SEC
October 20,2024
Dogecoin Experiences Significant Surge As Bitcoin Touches $69K Again
October 18,2024
Bitcoin Poised To Leave Gold And NASDAQ In The Dirt
October 18,2024
SEC Challenges Key XRP Ruling Through New Appeal
October 17,2024
An Overwhelming Majority Of Asian Private Wealth Is Investing In Crypto
October 17,2024
WLFI Token Raises $5 Million As Technical Issues Persist
October 16,2024
DeLorean Motors May Copy Tesla And Adopt SHIB As Payment Option
October 16,2024
Everything You Need To Know About The New Ripple Stablecoin
October 15,2024