🏦Are the Big Banks controlling Crypto?
With all this talk about how Bitcoin is going to undermine the banking industry and will be a tool for the average investor to pull away from the banking cartel what we keep seeing is how the "Banking Cartel" is embracing the technology and incorporating it in.
Take a look at this article clip:
From Monday, they (HSBC and Wells Fargo) will use blockchain technology to reconcile and pay out on deals in dollars, sterling, euro and Canadian dollars between the two banks, using HSBC’s FX Everywhere platform. The agreement means they will bypass CLS, the nearly two-decades-old utility that central banks urge market participants to use to neutralise the risk of certain trade failures…. The two banks also said they hoped to expand the system to other banks and emerging market currencies that CLS does not settle…. By using the technology, both HSBC and Wells will have real-time transparency of the settlement status of foreign exchange trades in the four initial currencies…. Wells will pay HSBC a small fee for using the platform, but the costs are likely to be lower than using CLS.
Then we have a company by the name of COINBASE. They are known as on of the largest places to manage Crypto. This is what they do:
And who are the main holders of their stock? Meaning who own them? That's right, Vanguard, the people behind the central banks.