Billions of {Dollars} Lacking from US Banks, CryptoQuant CEO Reacts

• The Economist just lately shared a chunk of stories that lots of of billions of {dollars} are lacking from American Banks.
• Binance CEO CZ retweeted the information to which CryptoQuant CEO Ki Younger Ju responded.
• Ju acknowledged that he wouldn’t be shocked if any names had been talked about, aside from those that don’t use consumer funds or have proof of reserves.

The Economist just lately shared a information piece that reveals that lots of of billions of {dollars} are lacking from American banks. Binance CEO Changpeng Zhao shared the information on Twitter. CryptoQuant CEO Ki Younger Ju couldn’t hold calm as he replied to the tweet, sharing his ideas.

_____ are lacking $ _____ of consumer funds.No surprises in case you insert some other identify right here, aside from those that don’t use consumer funds or have Proof-of-Reserves.

— Ki Younger Ju (@ki_young_ju) March 23, 2023

Ki commented on the tweet, asking individuals to name out the banks from which the consumer funds are lacking. He additionally acknowledged that he wouldn’t be shocked in the event that they inserted the identify of any financial institution, aside from those that don’t use consumer funds or have proof of reserves.

CryptoQuant’s CEO has been fairly vocal in opposition to banks amidst the financial institution runs. He just lately dropped a tweet talking of the coordinated effort by central banks to assist with US greenback liquidity.

Ki has requested that people who place confidence in the US greenback system ponder three situations. Firstly, he proposed a hypothetical scenario the place cryptocurrency exchanges allocate all consumer funds towards shitcoin. Secondly, he urged them to check a situation the place Satoshi Nakamoto generates an infinite quantity of bitcoins to rescue these exchanges.

The assertion comes amidst a time when banks are going by way of a fair proportion of turmoil, with consumer funds lacking and prime US banks collapsing. Regardless of all of the chaos, the cryptocurrency market was up and working.

Amidst all this, the SEC has additionally tightened its scrutiny of the cryptocurrency realm. The SEC sued Tron founder Justin Solar on the grounds of fraud and market manipulation, alongside different celebrities, together with Jake Paul, for selling it.

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