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#162 Signature Bank Had $34B in Liquidity. They Shut It Down Anyway | Scott Shay, N3XT
Description
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Connect with Scott Shay:
Website: https://n3xt.io/
LinkedIn: https://www.linkedin.com/company/n3xtio/
Timestamps:
00:00 Introduction
01:00 Scott Shay's journey into banking
03:00 Building Signature Bank
05:00 The origins of Signet and crypto banking
07:00 How Signet enabled 24/7 payments
09:00 The rise of stablecoins
13:00 The banking industry's reaction to crypto
14:00 What happened to Signature Bank
18:00 The fundamental problem with traditional banking
21:00 Moving dollars like Bitcoin
23:00 Why Scott decided to build N3XT
26:00 Building a full-reserve U.S. bank
29:00 Tokenized dollars outside the bank
32:00 Full-reserve vs. fractional-reserve banking
34:00 How N3XT makes money
36:00 Crypto regulation and the future
38:00 The N3XT digital dollar
43:00 How traditional banks view crypto
45:00 The future of banking
47:00 What fund managers should know
Disclaimer:
Alt Funds Network LLC and its affiliates, episode guests, and the companies they represent do not provide tax, legal or accounting or investment advice. This material has been prepared for informational and educational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, accounting, and investment professionals before engaging in any transaction or making any financial or legal decision based on your specific situation.