Circle announced they will no longer hold their money in banks after the issues they face the past week.
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The CEO of Circle announced this morning that he will be moving away from holding reserves in large banks since they can't be trusted. Circle CEO:
Cash reserves will be held by different members of the Circle team and they are all finding very creative ways to keep the cash backing USDC safe. Circle CEO:
The Idea to become their bank and store their own USD came from Chief Strategy officer Dante Disparte, seen below holding another billion of Circles USD reserves before they are stored inside his house walls for safety. Public Storage one of the Nations largest self storage facilities and expert in storing cash funds also announced a partnership with Circle. They will help Circle store some of the cash reserves in their storage units across the country for easy access wherever it's needed. The crypto world has long hated banks and with it's new moves Circle is clearly following the crypto trend of not trusting banks with your money, !This is Fake, everything here is made up. Circle CEO is not really storing billions under his mattress.!< submitted by /u/Odlavso |
