Re:The Bit Short: Inside Crypto’s Doomsday Machine
by acoustic on Friday January 15, 2021 @07:10AM
(#25789949)
Those numbers are for all bank offices located in the Bahamas, most of which are foreign bank branches. The numbers in the row "By type of bank - Domestic banks" [1] appear consistent with the article.
[1] https://stats.bis.org/statx/srs/table/A5?c=BS&m=S&p=20202&o=...
Re:The Bit Short: Inside Crypto’s Doomsday Machine
by cryptoanonymous on Friday January 15, 2021 @12:12PM
(#25793225)
Author here; this is the correct answer. The larger number refers to all banks. Deltec is known to be a domestic bank, so we can use the smaller number to get tighter uncertainty bounds on its currency flows.
Re:The Bit Short: Inside Crypto’s Doomsday Machine
by EliRivers on Friday January 15, 2021 @06:36AM
(#25789662)
Upvoted for coming armed with an actual fact related to the article, disagreeing with the author's premise based on some actual evidence. Might be right, might be wrong, but it's something other than just more opinion. Wish I could upvote more than once.
>The implication was shocking: there weren’t nearly enough dollars in all the domestic banks in the Bahamas to >back the Tethers that were floating around in the crypto market.
Doesn't match up with whats shown here[1], Bahamas banks are holding 110bn in customer deposits.
[1]https://stats.bis.org/statx/srs/tseries/LBS_D_PUB/Q:S:L:A:US...