Mar 29, 2023
In the past month, the banking sector experienced its most turbulent period since 2008. Major crypto-friendly banks, including Silvergate, Silicon Valley Bank, and Signature, have gone under, while the 170-year-old Credit Suisse stands on the brink of being absorbed by its main competitor, UBS.
Are we witnessing a reenactment of the 2008 financial crisis? Will the BTFP Fed program ignite another bull run? Or, could we be entering a phase of hyperinflation where Bitcoin's value surges to $1 million within 90 days, as predicted by Balajis, the former CTO of Coinbase?
Today on Blockcrunch, we have Ram, CEO of Lumida who was also previously the Head of Crypto at Cross River, one of the remaining crypto-focused banks, and also the Vice President at Merril Lynch to help us separate signal from noise:
Overview of the entire banking situation
Will BTFP introduce liquidity into the market
What will happen to the crypto markets
Host: Jason Choi @mrjasonchoi . Not financial advice.
(00:00:00) – Introduction to Ram
(00:04:14) – Why are banks falling?
(00:08:55) – Deliberate crypto crackdown
(00:15:59) – Is BTFP actually Quantitative Easing
(00:24:18) – FED’s ability to continue rate hikes
(00:29:21) – Can Bitcoin hit $1m in 90 days
(00:32:29) – What is going on with Credit Suisse
(00:38:57) – Tying everything back to crypto
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Ram Ahluwalia’s Twitter: https://twitter.com/ramahluwalia
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Jason Choi’s Twitter: https://twitter.com/mrjasonchoi
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