tldr; Banks suck because of a history of structural issues and a lack of market incentives to improve. A new kind of bank, one that doesn’t rely on fees but rather investments is now possible because the Volker rule was changed on June 25th, 2020.
The top 15 US banks have a combined $12 trillion in assets and capturing a small percentage of the US banking sector would make a $100 billion-dollar company. Banking was created in the 11th century, and the first merchant banks didn’t have walls, they were just a table and a paper ledger set up in…
Tether’s Unfair Contract
Any contract that is published on Ethereum is publicly available on Etherscan and you can see exactly what its doing ‘under the hood’. Tether’s USD-pegged stable-coin has become the 3rd largest cryptocurrency on the planet. As a security analyst, I thought I would look at Tether’s ERC20 smart contract which holds together a 16 billion dollar market… And what I found was quite fishy. This has got to be one of the least fair contracts I have ever read, the smart aspect just makes things worse.
Did you know that each time Tether is traded a small…
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