461 sats \ 0 replies \ @random_ 9 Mar 2023
Do your part. Withdraw everything you can.
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0 sats \ 2 replies \ @kr OP 9 Mar 2023
Silicon Valley Bank seems to be unrelated to yesterday’s Silvergate crisis (they claim to have minimal crypto exposure), but I find it odd that the two events are happening so close together.
Anyone have strong opinions about whether or not SVB will survive?
https://www.cnbc.com/2023/03/09/svb-financial-falls-more-than-50percent-as-tech-bank-looks-to-raise-more-cash.html
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442 sats \ 0 replies \ @siggy47 9 Mar 2023
It's all about confidence of counterparties. Nobody knows, and anyone who tells you they do is mistaken.
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11 sats \ 0 replies \ @HardMoney 10 Mar 2023
Fractional reserve banking is literally a ponzi business model. If everyone wants their money at the same time no money is to be found. Similarities to Silvergate involve the banks having to liquidate bonds at steep losses to fund withdrawals. The effects of interest rate hikes combined with human psychology around the illusion of confidence in a bank.
imo this isn't a crypto thing but a systemically fragile banking thing...literally the reason Satoshi invented bitcoin - Chancellor on the second brink of bailouts
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1 sat \ 0 replies \ @DarthCoin 9 Mar 2023
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