Banks calling crypto a racket while charging 25% APR on credit cards is peak irony.
They've been extracting wealth from regular people for decades through:
• 25%+ credit card interest
• Overdraft fees
• Wire transfer fees
• Foreign transaction fees
• Account maintenance fees
Meanwhile crypto offers:
• Permissionless access
• No middleman rent-seeking
• Transparent on-chain rates
• Self-custody options
The same institutions that needed taxpayer bailouts in 2008 are now lecturing us about financial responsibility.
They're not scared of crypto being a scam. They're scared of losing their monopoly on extracting fees from your money.
They've been extracting wealth from regular people for decades through:
• 25%+ credit card interest
• Overdraft fees
• Wire transfer fees
• Foreign transaction fees
• Account maintenance fees
Meanwhile crypto offers:
• Permissionless access
• No middleman rent-seeking
• Transparent on-chain rates
• Self-custody options
The same institutions that needed taxpayer bailouts in 2008 are now lecturing us about financial responsibility.
They're not scared of crypto being a scam. They're scared of losing their monopoly on extracting fees from your money.