Biden Admin Assaults Crypto Banks in Bid to Secure CBDC for Regime

BANK COLLAPSES ARE SYSTEMATIC ASSAULT ON NON-GOV DIGITAL CURRENCY – The bank collapses of Signature, Silicon Valley, and Silvergate (which started the collapses) appear to be a targeted effort by the rogue Biden administration to intimidate banks to not be crypto-friendly in a bid to lay the groundwork for a U.S. government digital currency that could be used to micromanage the lives of citizens.

Barney Frank who sites on the board of one of those banks, Signature Bank, said of the decision by the Feds to seize a bank that was not insolvent was an attempt to shut down non-gov-crypto-friendly banks and intimidate any banks that might want to step into the vacuum created by eliminating the three biggest banks that serve cryptocurrency customers.

Frank said, in part, “I think part of what happened was that regulators wanted to send a very strong anti-crypto message. We became the poster boy because there was no insolvency based on the fundamentals.”

Frank was responding to accusations the collapses were the fruit of a rollback of Dodd-Frank regulations under President Trump, an accusation he denies, and one that is found to be without merit as the regulations in question had nothing to do with why the banks were seized in the first place.

Paul Collier

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