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2023 Bank Run: #1 Silicone Valley Bank...


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Just now, iahawks550 said:

Wow, that's not good. This should start some more panic financial moves across various sectors.

It is spreading and there are around 200 Apps that use them as their payment system. 
 

Reading about Robinhood users able to exploit the price spread of USDC, they kept it pegged to $1, trades will probably get reversed but it was basically unlimited free money, thus Robinhood suspend USDC last night  

https://cointelegraph.com/news/usdc-depegs-as-circle-confirms-3-3b-stuck-with-silicon-valley-bank

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5 hours ago, Pseudoty said:

It is spreading and there are around 200 Apps that use them as their payment system. 
 

Reading about Robinhood users able to exploit the price spread of USDC, they kept it pegged to $1, trades will probably get reversed but it was basically unlimited free money, thus Robinhood suspend USDC last night  

https://cointelegraph.com/news/usdc-depegs-as-circle-confirms-3-3b-stuck-with-silicon-valley-bank

That bit about Robinhood is just classic lol. Too bad I didn't know about this. I might have exploited it. 

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