There have been a number of cases in fintech of basically “buying” a banking lic... | Hacker News

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		bombcar on Nov 24, 2022 \| parent \| context \| favorite \| on: FTX’s ownership of a U.S. bank raises questions There have been a number of cases in fintech of basically “buying” a banking license by buying some small bank.

graeme on Nov 24, 2022 [–]

That would appear to be the case here, with the difference being that the purchaser in this case is a foreign bank known for its ties to a large criminal enterprise (Tether/Bitfinex)

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