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The Water Cooler
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More crypto turmoil
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<blockquote data-quote="SlugSlinger" data-source="post: 3800796" data-attributes="member: 7248"><p>These companies loaned out the dollars people used to deposit into their crypto accounts mostly to buy cryptos like Bitcoin.</p><p></p><p>Mostly due to human nature and emotion, cryptos are dropping and people want to sell. You know those who buy high and sell low.</p><p></p><p>These companies do not have the cash reserves to fund the crypto account holders that are selling and want to withdraw money from their account because the company loaned these funds out to other borrowers under contracted terms. The people who took out these loans do not have to repay just because the lender ask them to.</p><p></p><p>It’s just like a run on a bank when the bank has ran out of cash.</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3800796, member: 7248"] These companies loaned out the dollars people used to deposit into their crypto accounts mostly to buy cryptos like Bitcoin. Mostly due to human nature and emotion, cryptos are dropping and people want to sell. You know those who buy high and sell low. These companies do not have the cash reserves to fund the crypto account holders that are selling and want to withdraw money from their account because the company loaned these funds out to other borrowers under contracted terms. The people who took out these loans do not have to repay just because the lender ask them to. It’s just like a run on a bank when the bank has ran out of cash. [/QUOTE]
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