Tag: banks

What Is Driving Institutions To Invest In crypto? BlockFi’s David Olsson Explains

In an interview with Cointelegraph reporter Joe Hall last Tuesday, David Olsson, global head of institutional distribution at BlockFi, shared his insight on the state of institutional adoption of cryptocurrencies. BlockFi is a financial services company that offers retail wealth management products, such as crypto-backed loans, interest accounts, Bitcoin (BTC) rewards credit cards, etc. Meanwhile, for institutional investors, BlockFi’s proprietary platform provides financing for capital efficiency, the ability to borrow coins for hedging and shorting, and institutional-grade trading infrastructure.

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Want to See the Future of Banks? Look at Telcos

If you want a sneak peek at how DeFi is likely to transform the banking industry, the history of the telecom industry in the U.S. may turn out to be a good guide.

At first, only small parts of these businesses were exposed to substantial competition – mostly the long-distance business. Over time, however, new technologies such as wireless and Voice Over Internet Protocol (VoIP) started to upend the entire business.

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The Coming Federal Weaponization Of Banking

The largest shake-up in finance since the formation of the Federal Reserve is nearly here. The establishment of a government-backed cryptocurrency is a threat to the freedom of commerce and would give Washington the ability to weaponize banking against political dissent, or even block Americans from accessing their own money altogether. 

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Bitcoiners Were Right: Weaponized Finance Just Created a Post-Dollar Planet

By David Z Morris At Coindesk.com

Vladimir Putin’s Russia is facing a wave of truly unprecedented financial sanctions in retaliation for its widely scorned invasion of Ukraine. The sanctions have suddenly revealed the massive power that lay dormant in the unified global banking system for decades. But it likely also marks the beginning of that power’s end, and the dawn of something more fragmented.

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Trudeau Backs Down After Banks Scream about Massive Withdrawals

Based upon reliable sources, Trudeau has been forced to abandon his Emergency Act as a staggering amount of money has fled Canadian banks. Canadians have moved accounts to the United States by the tens of thousands following Trudeau’s freezing bank accounts without a court order which has even included credit cards. Canadians began withdrawing all of their money from their bank accounts with most turning to cash, others to gold, and some to BitCoin. The demand for US dollars more than tripled in the past week.

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Credit Cards: The Business of Enslaving Poor People

This YouTube video by Jake Tran documents the history of credit cards, and how they exploded the personal debt of millions of ordinary Americans. They are offered by banks to let people borrow money for everyday purchases. Modern banks make their money by lending it and charging interest. If a customer ever falls behind in paying their balance, the bank then has an limitless supply of money coming back to it.

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I'm Nate Houstman

I'm a blogger, podcaster, and web design and business consultant. Economic freedom is my mission, so I talk about money, entrepreneurship, and I expose the corruption in the financial system.

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