FDIC chair Gruenberg lied at least twice in his testimony to Congress today: 1. says SigNet IP has already been sold (false, & they are blocking the sale to interested parties) 2. denies that FDIC supervision is more onerous for banks that service digital asset clients (false)
Gruenberg then contradicted himself later regarding SigNet when Rep. Garbarino asked, saying it was "in the process of being marketed" In reality, SigNet has already received bids from interested banks, but FDIC is refusing to sell
Regarding 2), Rep. Emmer asks "has the FDIC ever communicated implicitly or explicitly to any banks that their supervision will be more onerous in any way if they take on new or maintain existing digital asset clients?" To which Gruenberg says "No." But this is false.
A subpoena of the FDIC will reveal that they absolutely do demand extra diligence and disclosure for banks servicing crypto clients, and have done so since 4Q22. They have special information requests for banks serving crypto firms. That's more onerous.
@nic__carter This “No” was the only direct one-word answer in the entire hearing. Major flag for falsehood
@nic__carter But thats the crux of the matter. The God Kings can say whatever they want and there constituents just nod there head and say see BTC is Rat Poison because he said it is. And there is no one with enough status to debate it..