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Numisma, a unique bank focused on distributing US banknotes abroad, has raised concerns due to its ties to former Federal Reserve officials. The bank's special Master Account approval, involving individuals connected to the Fed, has sparked controversy over potential cronyism and lack of transparency in the process.
This is odd at least, but potentially juicy. Did the Fed approve a special Master Account for a bank co-founded by a former Fed official and Liz Warren relative? If not, crazy coincidence. https://t.co/vMg9KFWAKX https://t.co/UgRWFDiAmR
The interesting thing here is that Numisma isn't a normal bank or a fintech bank -- it's a bank that exists for one reason: to distribute US banknotes abroad Bullish stablecoins? https://t.co/meeEzjsgXa
And here is some of the blowback when the Fed uses a non-transparent system for awarding master accounts and then just happens to give them to their friends. Did they learn nothing from Reserve Trust? https://t.co/gHbxuv9oYk
