Discover and read the best of Twitter Threads about #pwg
Most recents (1)
1/ "Even in the face of regulatory threats, #crypto enthusiasts see each development as a step towards mainstream acceptance. So it's no surprise that a new crypto-friendly bank becoming a member of the Federal Reserve would be a headline grab."🤠@AvantiBT
businessinsider.com/ceo-crypto-ban…
businessinsider.com/ceo-crypto-ban…
2/US banking law is confusing but @lailamaidan got it right--@AvantiBT is different--is eligible for BOTH access to Fed's payment system & to become Fed member PLUS has applied for BOTH. (OCC trust banks aren't depository institutions so aren't eligible for payment system access) 
3/ I can't think of another industry that is so deposit-constrained: ~$80bn of USD bank deposits supports >$2trn in assets. Our industry has a big single point of failure risk: USD banking access. Plus there's lots of settlement risk in trad banks when they bank #crypto industry.
