Home » Ex-bank Boss Lebedev Says ‘Parasitic’ ‘Banks Pocket Clients Money,’ Touts DeFi

Ex-bank Boss Lebedev Says ‘Parasitic’ ‘Banks Pocket Clients Money,’ Touts DeFi

Ex-bank Boss Lebedev Says 'Parasitic' 'Banks Pocket Clients Money,' Touts DeFi

Alexander Lebedev. Supply: a video screenshot, Youtube/Александр Лебедев

A Russian media mogul and former financial institution chief who is ready to launch an formidable new, DeFi-themed cryptobank venture in Switzerland has taken a swipe on the typical banking system and international locations that permit themselves to turn into dwelling to scores of shell firms – accusing them of churning out “soiled cash.”

The claims had been made by Alexander Lebedev in an opinion piece for The Unbiased, a British nationwide newspaper that he co-owns – together with London’s Night Commonplace. Lebedev stated the cryptobank he’s engaged on will turn into a “banking 2.0” answer and will likely be known as the Unbiased Decentralized Monetary Ecosystem.

Within the piece, Lebedev, who lately bought his remaining pursuits within the Moscow-based Nationwide Reserve Financial institution, claimed,

“An enormous parasitic class has been fashioned, made from bankers, faux traders, legal professionals, auditors and repair personnel, who rule total states known as ‘offshores’ and the international locations which are [invested] in them. This class produces nothing however ‘soiled cash.’”

He aimed extra barbs on the finance trade, writing that “Fashionable bankers damage their banks by pocketing purchasers’ cash” and “The world banking neighborhood has become an ‘anti-bank,’ whose perform is to misappropriate prospects’ belongings and launder ‘soiled cash,’ the amount of which is rising globally by USD 1 trillion yearly.”

And the Russian claimed police and judiciary methods seem powerless to halt the rot, including,

“Alas, nationwide legislation enforcement buildings and courts are usually not in a position to withstand this evil on a systemic stage – they solely present palliative care, by preventing towards particular person scams. My attraction for the creation of latest worldwide buildings stays a lonely one.”

And Lebedev seems to be available with a DeFi-powered answer. After championing pro-crypto causes such because the Swiss canton of Zug’s transfer to permit tax funds in bitcoin (BTC) and ethereum (ETH), the media boss concluded,

“Maybe we’re on the verge of an actual revolution within the worldwide monetary system. But one factor is indeniable: within the type through which this method exists now, it’s main the world economic system to catastrophe.”

Lebedev has beforehand advised Russian media retailers that he and a bunch of companions wish to stump up USD 15 million to assist his initiative rank among the many “world’s high 10 DeFi tasks.”
Study extra:
Why Do Bankers Behave So Badly? They Make Too A lot Cash To Ask Questions
Unhealthy Information For Banking Giants Laundering Cash May Flip Towards Bitcoin Too

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