Re:Joint Statement by the Department of the Treasury, Federa...
by csomar on Sunday March 12, 2023 @10:45PM
(#35130303)
This.
It makes sense that someone with $1.000 shouldn't have to worry about T-bills, interest rates or splitting his risk across multiple banks. The $250k more than covers that.
But someone that has $250m should be able to understand that money is not really the same at such scale and that storing it is not possible without exposure) to interest rates. He can buy T-bills, sweep accounts, or take the risk. But when your wealth is a few millions or you are managing a few hundred millions, you should know (or your money managers) better.
Welcome to the new old world. Crypto is pumping 10% this morning on this news.
It makes sense that someone with $1.000 shouldn't have to worry about T-bills, interest rates or splitting his risk across multiple banks. The $250k more than covers that.
But someone that has $250m should be able to understand that money is not really the same at such scale and that storing it is not possible without exposure) to interest rates. He can buy T-bills, sweep accounts, or take the risk. But when your wealth is a few millions or you are managing a few hundred millions, you should know (or your money managers) better.
Welcome to the new old world. Crypto is pumping 10% this morning on this news.