The union of cryptocurrency and Wall Street is much like a Medieval arranged marriage: A little bit of wealth is at stake but everyone seems miserable and most people involved are in need of a bath. Few are as upset about the whole thing as those who are involved in crypto for ideological reasons—or, at least, those who say they are.
-
-
Fake Tethers under fake bitcoins. It's an illustration of what may be happening (Photo via Shutterstock).Tether’s bank said to be ‘desperate’ for cash
Noble may be looking for funding while Tether traders unsuccessfully try to unload large amounts of the coin
A Puerto Rico-based startup bank is said to be struggling to survive and that could have repercussions in the cryptocurrency markets. Noble Bank is trying to keep afloat and has been frantically searching for funding, according to two highly placed sources, including one at a large cryptocurrency exchange. The bank, with a large chunk of assets coming from Tether’s U.S. dollars, is said to have reached out to at least one large holder of the “stablecoin” in hopes of getting a cash lifeline, but the solicitation was rejected. The source would not elaborate on the size of the request. “If Noble doesn’t get cash soon, they will only have a…