![Episode 68: Then they fight you[r bank]](/images/fallback-image.png)
Show Notes
SBF, former CEO of crypto Ponzi scheme FTX, stole literally billions (https://www.thenationalnews.com/business/money/2023/03/16/sam-bankman-fried-transferred-22bn-in-ftx-customer-funds-for-personal-use-filings-show/) of customer deposits and investor funds
Forbes nails it again (https://twitter.com/nights62/status/1636438392824283136)
## News
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Signature Bank, the 'other' crypto-focused bank, has been nationalized (https://www.cnbc.com/2023/03/13/signature-bank-third-biggest-bank-failure-in-us-history.html) along with Sillicon Valley Bank (SVB) per an FDIC announcement (https://www.fdic.gov/news/press-releases/2023/pr23017.html)
The US President was consulted
Signature Banks wasn't bankrupt (https://nymag.com/intelligencer/2023/03/barney-frank-says-more-shuttering-signature-bank.html), it was nationalized as part of anti crypto-banking policy
Central Banks globally are panicked and announcing (https://www.federalreserve.gov/newsevents/pressreleases/monetary20230319a.htm) policy coordination
Economics
Can a bank be too safe (https://twitter.com/LynAldenContact/status/1635377628608856064?cxt=HHwWgIDQrbzSg7ItAAAA)? Yes, according to the US Federal Reserve.
A history of account insurance limits (https://twitter.com/lynaldencontact/status/1634761951761903618) by the US Federal Deposit Insurance Corporation
Lyn Alden's explainer on bank runs (https://www.lynalden.com/march-2023-newsletter/) puts the last week of bank chaos into context
Bitcoin Education
RoninDojo is selling pixel6 mobile phones (https://ronindojo.io/en/roninmobile) pre-loaded with Graphene or CalyxOS
Let's talk macaroons (https://docs.lightning.engineering/lightning-network-tools/lnd/macaroons) per a listener email
Feedback
Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod (https://mobile.twitter.com/bitcoindadpod) on twitter
Consider joining the matrix channel (https://matrix.to/#/#bitcoin:jupiterbroadcasting.com) using a matrix client like element (https://element.io/get-started), details here (https://www.jupiterbroadcasting.com/community/matrix/)
Links
LN Address (http://lnaddress.me/) can be used to setup a reusable lightning address
openai-whisper-cpu: Improving transcription performance of OpenAI Whisper for CPU based deployment (https://github.com/MiscellaneousStuff/openai-whisper-cpu)
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Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)
Activity
@petar
12,345 sats
Mar 22 2023
I love your break down of the ongoing banking crisis. Huge fan of Graphene and big fan of this show. Keep it coming.
@meremortalspodcast
11,111 sats
Mar 23 2023
This was amazing!! So glad i found you guys, everything coming out of your mouths make so much sense. I really appreciate your effort in breaking down all these complex topics for dummies like me. Fast becoming one of my favourite podcasts.
@smartgrowth
5,000 sats
Mar 24 2023
I'm setting up my BTC Pay server for myself and a couple other open minded farmers out here. I have not yet delved into setting up and managing a lightning channel, so I'm quite hesitant. is there a good solution this issue as on chain fees start climbing? I do not have the time to learn a bunch and maintain a liquidity balance that requires more than 15 min/week. thanks for your time and content, have a great week!
@smartgrowth
5,000 sats
Mar 20 2023
I tried the time for money exchange with a start 9. unfortunately it's not an amazing time saver and I still don't have anything setup because it still requires a few hours to configure everything, which I lack between a full time job, family, and the farm. Still waiting on a true time saving solution.
@pbl
100 sats
Mar 20 2023
preshow boost