SWIFT & crypto - Binance / Signature

[Lumberjock]

“SWIFT ends crypto access to global markets”

Armstrong Economics blog

“SWIFT will no longer process currency transactions from bank accounts to crypto exchange, with a value of fewer than 100,000 USD, effective February 1st, 2023. The move is designed to reduce the access of crypto investors which is a step toward what I have been warning that governments will NOT allow private cryptos to compete…”

“Imposing a $100,000 limitation will greatly reduce the ability to gather smaller investors. This will be interesting if January proves to be just a reaction high…”


—- Get those orders in and to the recipients, cash out while you can. We’re marching into 2032 and 2023/24 is going to be brutal.—

Edit: article is misleading, only Binance & Signature have moved on SWIFT/crypto

 

[FitTrader]

Lol no

 

[FitTrader]

Signature Bank Halts SWIFT Transactions Under $100,000 for Crypto Users, Says Binance - Decrypt

Binance’s banking partner Signature Bank will reportedly no longer support SWIFT transactions of less than $100,000.

decrypt.co

 

[FitTrader]

Signature Bank halts SWIFT with binance

 

[FitTrader]

Binance Says Signature Bank Won’t Support Transactions for Crypto Exchange Customers of Less Than $100K

 

[FitTrader]

Binance Could Feel Sting of Bank's New Crypto Limit

Signature Bank will no longer support Binance customers who buy or sell amounts less than $100,000, the crypto exchange said.

www.barrons.com

Binance Says Signature Bank Won’t Support Transactions for Crypto Exchange Customers of Less Than $100K

The crypto-friendly bank has been reducing its involvement in digital asset markets in recent weeks, part of the ongoing fallout from recent crypto industry debacles.

www.coindesk.com

Blogs ( like your link) sometimes don’t give the whole story
And have clickbait trigger words

 

[Lumberjock]

Binance Could Feel Sting of Bank's New Crypto Limit

Signature Bank will no longer support Binance customers who buy or sell amounts less than $100,000, the crypto exchange said.

www.barrons.com

Binance Says Signature Bank Won’t Support Transactions for Crypto Exchange Customers of Less Than $100K

The crypto-friendly bank has been reducing its involvement in digital asset markets in recent weeks, part of the ongoing fallout from recent crypto industry debacles.

www.coindesk.com

Blogs ( like your link) sometimes don’t give the whole story
And have clickbait trigger words

Not sure what you disagree with. The articles you linked to are verifying the 100k minimum.

If you think Martin is click bate, best read up on his track record.

 

[FitTrader]

It’s not global
It’s Binance
And a specific bank Signature Bank

 

[FitTrader]

Only 0.01% of Binance's monthly users are served by Signature Bank. Other Binance banking partners have not been affected, the exchange noted, adding that it is “actively working to find an alternative solution” for affected users.

 

[FitTrader]

be honest did you read what I posted ?

 

[FitTrader]

SWIFT ends crypto access to global markets

This is absolutely not true

 

[Lumberjock]

be honest did you read what I posted ?

I did. Do you not feel other banks will follow suit and this will remain isolated to Binance / Signature?

 

[FitTrader]

I did. Do you not feel other banks will follow suit and this will remain isolated to Binance / Signature?

Can I predict the future ? No
Do I pretend to predict and know what will happen ? No

Do 0.01% of Biance users use that bank ? Yes

Does it seem like a big deal ? No

Did you make post that was pure misinformation? Yes

Trust me crypto market would FEEL that very hard instantly If that was true

 

[Lumberjock]

Fair, but curious to know if it will expand. I will edit the thread title; was a copy of the article’s headline.