szarka on nostr

Open in Damus

Lyn Alden · 53w

Stablecoins quietly the biggest attack ever on fractional reserve banking, and I’m here for it.

szarka @szarka 1742531638

And yet Tether has been, and for all we really know still is, basically a fractional reserve bank.

1🔥1

I mean, it's not even a question that it technically is fractionally reserved even now, though its assets are safer and more liquid now. But in the past it's been downright wild…