{"id":380144,"date":"2023-03-14T08:07:32","date_gmt":"2023-03-14T08:07:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=380144"},"modified":"2023-03-14T08:07:32","modified_gmt":"2023-03-14T08:07:32","slug":"banks-are-nothing-but-a-scam-says-uniswap-boss","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/banks-are-nothing-but-a-scam-says-uniswap-boss","title":{"rendered":"Banks Are Nothing But A Scam, Says Uniswap Boss"},"content":{"rendered":"
Uniswap founder Hayden Adams says banks are \u201ca massive scam\u201d when compared to decentralized finance<\/a> (DeFi) platforms. This comes after three high-profile bank collapses sent players in both the crypto and financial markets panicking.\u00a0<\/span><\/p>\n The crypto space witnessed a number of devastating bankruptcies in 2022 triggered by the collapse of Do Kwon\u2019s Terra Ecosystem. This was exacerbated by the demise of Sam Bankman-Fried\u2019s crypto empire FTX<\/a> cryptocurrency exchange in November 2022.<\/span><\/p>\n The contagion effects snowballed into 2023 with major players like Genesis filing for bankruptcy<\/a> after holding on longer than the likes for Celsius Network, three Arrows Capital, Vauld, BlockFi<\/a> and Voyager Digital which had filed for bankruptcy last year.\u00a0<\/span><\/p>\n As if this was not enough, the crypto market now stares at weeks of uncertainty and volatility after two crypto-friendly banks, Signature Bank and Silicon Valley Bank (SVB) were forced to halt their operations in the US over the weekend.\u00a0<\/span><\/p>\n Signature Bank shut down in connection with Silicon Valley Bank collapse https:\/\/t.co\/UdFcYny73B<\/a><\/p>\n — Fox News (@FoxNews) March 13, 2023<\/a><\/p><\/blockquote>\nThe Collapse of Signature Bank, SVB, Silvergate Shake Up Financial Market<\/span><\/h2>\n
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