Andreessen Blames Debanking for NFTs
This is a U.S. news story, published by Gizmodo, that relates primarily to Marc Andreessen news.
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•Why Crypto Bros Are So Obsessed with 'Debanking'
66% Informative
Marc Andreessen made headlines recently when he brought up the issue of “debanking” on the Joe Rogan podcast.
The venture capitalist claimed that the U.S. government was “terrorizing” crypto companies with it.
The concept of debanking involves a financial institution shutting down a person or organization’s bank account.
The FDIC guidance memo from January 2023 , cited in Fortune article, notes that “business models that are concentrated in crypto-asset-related activities” raise “significant safety and soundness concerns” The phrase “events of the past year ” could easily be read as a reference to the implosion of the FTX exchange, which vaporized billions of dollars .
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