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This one is close to my heart, having seen my origin country (lebanon) go into complete economic meltdown, with its central bank seizing people’s dollars. Several of my friends and family lost everything and had to start over.
Governments seizing people’s savings is also coming to Europe. France for example is considering forcing people to lend them their savings to plug its gigantic debt hole. Imagine working your entire life, putting money aside for retirement, only to have your government take it away.
There has never been a more important time for non-custodial, private stablecoin spending and savings accounts.
Please support @raycashxyz and their mission!
Governments seizing people’s savings is also coming to Europe. France for example is considering forcing people to lend them their savings to plug its gigantic debt hole. Imagine working your entire life, putting money aside for retirement, only to have your government take it away.
There has never been a more important time for non-custodial, private stablecoin spending and savings accounts.
Please support @raycashxyz and their mission!
EXCLUSIVE: Zama spin-off Raycash launches confidential stablecoin payments and private yield on Ethereum theblock.co/news/defi/2026…View quoted post on X
💯💯💯
Once people wake up to what SoftBank CEO is saying, it will be too late…View quoted post on X
Thats why we need products like @raycashxyz: confidential self-custodial banking. No fractional reserves, no central bank seizure
🚨Turmoil erupts in Paraguay as one bank’s collapse spirals into a NATIONAL CRISIS.
Ueno Bank, the country’s largest digital bank, has been seized by the Central bank after its solvency ratio plunged below half the legal minimum, leaving nearly 3 MILLION customers unable to access accounts, cards and transfers.
That’s almost 60% of Paraguay’s adult population.
Angry citizens have now taken to the streets demanding access to their money.
The disruption has spread beyond the bank- 13 mutual funds have reportedly frozen withdrawals, and trading in Ueno’s bonds has been suspended.
Nearly $380 MILLION belonging to the state pension fund is caught in the crisis.
The problem is how deeply Ueno was embedded in everyday payments.
It handled two-thirds of card payments at major stores. With those services frozen, Paraguay’s main importers’ association describes retail activity as “semi-paralyzed.”
Customers have been told they can initially recover up to $1,700, with no payment date given.
The political fallout is mounting with the Central Bank chief Carlos Carvallo resigning, and authorities having arrested 8 executives from the bank over suspected breach of trust.View quoted post on X
7702 is a horrible design security wise. It's just a massive footgun that will lead to many, many users to lose their funds.