Peter Schiff's bank to be liquidated, would he join Crypto soon? and what happens to his Customer's Money?
Honestly, I know I'm not supposed to be happy about another person's business crashing down but Peter Schiff has trolled crypto and crypto traders or investors enough to last for a lifetime but ironically his bank is getting liquidated and Bitcoin and Crypto are still here, with heads raised high and standing strong, they have not been liquidated, and would not be liquidated despite his prediction that Bitcoin will go to zero, due to the bearish crypto market condition, warning all Bitcoiner's and Crypto traders or investors that they should pull out all their money from Crypto, that it is a scam and it would crash soon, and now the table has turned on his bank, not for being a scam but for money laundering and he got de-banked 2 months ago.
Peter Schiff Cut A deal
Sometime this year, in the month of June, the regulators in Puerto Rico suspended Peter Schiff's Euro Pacific Boutique Online Bank citing “serious insolvency” issues. However, in the settlement, reached Tuesday, the bank regulators acknowledged the bank did have cash at hand. In that settlement, Mr. Schiff agreed to return $66.7 million in deposits, using several million in gold to cover any cash shortfalls. He has also agreed to pay $300,000 in fines, according to a copy of the settlement.
What Would Happen To Euro Pacific Bank Customers?
Now that a settlement has been reached with Puerto Rico to liquidate the bank and Peter Schiff to pay $300,000 in fines, what would happen to the bank customers whose accounts were frozen? Because from the articles I have read so far, no one has stated a settlement plan for his customers about to lose their hard-earned money, how does Peter Schiff want to handle it, I'm looking forward to seeing what happens next, "Too bad" if his customers are going to pay the costly price of losing their money. A lot of people think he is going to invest in Crypto now, after all the negative predictions against crypto, this is another event I am looking up to seeing.
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I will definitely keep you guys updated.
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He‘s 110, why is he even still in the game.
Lol, I have no idea mate
I posted about this earlier this year. If Peter doesn't understand the importance of Bitcoin by now, he won't ever.
Trust me buddy, I don't think he will.