American Banks Falling Faster than House of Cards Race for Bankruptcy

If we say that American banks are competing

 with Humpty Dumpty it would not be any wrong as many of them are already having ‘great falls’. 

Where banks from all around the world come together to build a mechanism challenging the efficiency of blockchain, the banks of America are coming together to not get bankrupt altogether.

The land of opportunities is leaving no opportunity to put its long leg in between new-age innovation and its regulators are constantly purging crypto businesses in the name of ‘necessary regulations’.  The Security and Exchange Commission’s proactive role has already crossed all the lines of ‘non-interventionism in business’ ideals in the country and even CZ has reportedly seen Gary Gensler in his nightmares. 

Even after all these regulatory measures, something has to be seriously wrong with the US economy as the fall of Signature Bank was the third ‘great fall’ in the series of bank runs. Silvergate and Silicon Valley Bank were two of those that preceded this fall and none of the interventionist forces could do anything about it.

Luckily Silicon Valley Bank and Signature Bank fall’s burden is not going to land on taxpayers, thanks to the liquidation of their movable and immovable assets. However, the regulators are leaving no chance to take credit for that as well. 

The US regulators who constantly cry about the risk associated with cryptocurrencies are left with no answers when the stablecoin users are chilling around amidst these repeated bank runs. The truth lies in the fact that financial frauds and blunders are common all around the world irrespective of the technology used in conducting the payment.  

We hope that no bank would go bankrupt in America anymore as the flag of regulators’ jingoism will fall short for them to hide their faces. 

Also, Read - CZ Zhao Announces Conversion of Binance Recovery Fund to Crypto