Source: https://www.coindesk.com/citi-scraps-its-plan-for-a-jpm-coin-like-bank-backed-cryptocurrency

 ![image](https://img.esteem.ws/dnoouryuyv.jpg)

One thing we have to get use to, nobody in business is going to be honest about what they have been doing in crypto or what their plans are. There is a “crypto Wild West” that the banks are playing and have been playing for years — and you have no idea.

Recently, Citibank announced they will not go forward with their own bank coin. Who knows why? They obviusly have other plans because if you read the article Citibank does plan to be a player in blockchain / crypto....maybe even as a custodian???

Don’t be surprised if over time that you hear that all these banks have been secretly buying crypto’s for years — directly from the miners — so NOTHING is ever reported.

The Banks received a massive bailout from the Fed in 2008/2009 and have basically been supported by unlimited money printing — so who bought what and when by the banks for even the Fed is impossible to know.

BUT — if you had unlimited funds and the entire crytpo industry is tiny compared to US Bank Assets — you can quickly understand that the banks could be ready for “whatever happens”.

Just like plans for Facebook or Amazon etc... with cryptos, you have no idea and yet crypto prices are all in “limbo”.

They know....we can see at a high level but it’s like an “ice berg”, you can only see the very top and not the massive amount underwater.

Don’t be shocked when these banks announce their plans.