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Tether CEO Torches EU Bank Protections: ‘Like Spitting on a Fire’ as Crisis Looms
Tether CEO Torches EU Bank Protections: ‘Like Spitting on a Fire’ as Crisis Looms
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Tether’s CEO Paolo Ardoino just threw gasoline on the debate over EU banking safeguards—calling deposit protections utterly useless as financial storm clouds gather.
The controversial stablecoin boss didn’t hold back: "When banks start collapsing, your government guarantees are about as effective as a screen door on a submarine."
This comes amid growing warnings from economists that Europe’s banking sector could face its Lehman moment before 2026. Meanwhile, bureaucrats in Brussels keep insisting their 100k EUR protection schemes are "robust"—just like they did before every other financial crisis in history.
Bonus jab: Nothing reassures depositors quite like watching central bankers print trillions while claiming inflation is "transitory."
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