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Circle announced they will no longer hold their money in banks after the issues they face the past week.

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by COINS NEWS 102 Views

Circle announced they will no longer hold their money in banks after the issues they face the past week.

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:

We are becoming our own bank!
Holding our cash reserves ourselves!
Never will we trust a bank again!

https://preview.redd.it/3s3u2rcmdyna1.png?596&format=png&auto=webp&s=1d3a574247f0ebe17c1989c21c9e8a7ffb9719a0

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:

I'm holding one Billion under my mattress, the safest places is next to me where no banker can gamble it away on risky bets.

https://preview.redd.it/nqdzvkzndyna1.jpg?406&format=pjpg&auto=webp&s=ab189a908c37d9adc77068d29d09d6c9bbdb173e

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.

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https://preview.redd.it/6yd168kpdyna1.jpg?768&format=pjpg&auto=webp&s=0a1f9f87abee3159163e09acb5075d9e3a8cee1d

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.

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https://preview.redd.it/rfw8na8qdyna1.png?596&format=png&auto=webp&s=953e554d2e6d8b207d6ef4b3362b3b8d060c882d

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.!<

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