Rabbit Hole Recap cover image

Rabbit Hole Recap #256: The Bank Runs Continue

Rabbit Hole Recap

00:00

The SEC's Warning About Coinbase

Finance is essentially a shadow bank. We've been warning about this four years. The SEC has postured saying, hey, it's likely that you're offering unregistered securities to your customers. It seems to have come this week. And that sparked the big debate. A lot of people are claiming that Bitcoin maximalist are quote unquote Bitcoin maximalist. Some people are. But I don't know. My perspective is I do believe in free markets. So they basically got hit by pretty much the same thing but Binance got additional things that they got hit by because the finance is essentially ashadow bank.

Play episode from 12:52
Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app