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The Unstoppable Trainwreck That Is Solana: Swiss Banks Blindly Jump on Board as the Ponzi Scheme Continues to Chug Along!

BlockchainCrypto NewsEthereum Sam Rogers October 4, 2024

A speeding train with 'Solana' written on its side is shown careening out of control down a track, while behind it a more stable and secure-looking locomotive labeled as Ethereum chugs along steadily. The Solana train has several financial institutions clinging to the sides for dear life, including Swiss banks and Visa, but they appear oblivious to the impending disaster ahead.

The great Solana swindle continues! Another day, another Swiss crypto bank trying to convince us that this Ponzi scheme is going places. Sygnum Bank thinks Solana can ‘seriously challenge’ Ethereum over the long term because it’s scalable and has low costs… yeah right, just like a timeshare in Boca Raton. Meanwhile, Visa integrates Solana for USD Coin settlement (because who doesn’t love more fees?) and Franklin Templeton launches a mutual fund on Solana ( probably to fleece some unsuspecting investors). And of course, Citi is considering using Solana for cross-border payments… because nothing says ‘secure’ like a blockchain that’s been hacked multiple times. But wait, there’s more! Edward Snowden thinks Solana is too centralized and can be easily disrupted by states. Who knew? Still, Sygnum Bank remains optimistic about the future of this overhyped mess, predicting a .

Source: cointelegraph

Emerging trend could see Solana ‘seriously challenge’ Ethereum: Sygnum
https://cointelegraph.com/news/solana-challenge-ethereum-institutional-adoption-sygnum-report
Financial institutions that choose to roll out real-world asset tokenization platforms and stablecoins on Solana could position the blockchain to “seriously challenge” Ethereum over the long term, according to a Swiss crypto bank. There have been indications that even “conservative institutions” may prefer Solana’s scalability to Ethereum’s stability and security advantages, Sygnum Bank said in an Oct. 1 report. Competitor payment processing firm Visa recently integrated Solana for USD Coin […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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