Crypto's new bailout fund

[Crepitus]

YOur savings account.

The "genius act" would prioritize making crypto investors whole over other bank depositors in the event of a failure or default.

It effectively says they must drain regular accounts to reduce the crypto losses.

Crypto’s New Bailout Fund: Your Savings Account

The GENIUS Act would require banks to prioritize stablecoin owners over customers if there’s a financial collapse.

www.levernews.com

 

[TimFitz]

The whole idea of guaranteeing the value of an asset whose value is tied to the fluctuating value of other assets is a recipe for financial disaster.

 

[Silent Warrior]

YOur savings account.

The "genius act" would prioritize making crypto investors whole over other bank depositors in the event of a failure or default.

It effectively says they must drain regular accounts to reduce the crypto losses.

Crypto’s New Bailout Fund: Your Savings Account

The GENIUS Act would require banks to prioritize stablecoin owners over customers if there’s a financial collapse.

www.levernews.com

LOL. Your post proves you have read a biased news source, but not the bill itself.