Comment by dalemhurley
1 year ago
You missed the point, banks have costs, banks are companies, banks must be profitable otherwise they collapse, crypto is very expensive to bank, banks have difficulty making profits on funds sourced from crypto, a responsible business you must prioritise (queens English) profitable customers.
My understanding is that crypto is expensive to banks because crypto is expensive to any legal entity in general.
And crypto kings not being able to hold their coins in their bank account doesn't sound like "debanking" to me, because it never was banked in the first place (some banks sure did handle it, but not the ones they're crying about).
I also can't get my bank to hold my beany babies either, and nobody calls that being debanked.
It's not about storing crypto - it's about storing fiat currency for crypto companies.
Yes it is, crypto is wanting to use banks for the storage of funds, but the banks cannot afford the cost of doing so, because it costs money to manage the massive risk.
Thanks, I wasn't getting it and it's a bit clearer.
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