https://www.cnbc.com/2023/03/10/silicon-valley-bank-collapse-how-it-happened.html

Here’s how the second-biggest bank collapse in U.S. history happened in just 48 hours

 

Edited March 11, 20232 yr by brickolodon

This graf got me:

Funds: HEY, you gotta do a bank run because we're worried about a bank run! 

https://www.eseller365.com/etsy-delays-seller-payouts-silicon-valley-bank/

1 hour ago, Pseudoty said:

https://www.eseller365.com/etsy-delays-seller-payouts-silicon-valley-bank/

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

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

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. 

1 hour ago, Pseudoty said:

Lol at no losses will be borne by the taxpayer. 🤣🤣

Yet again, they rush to give the big fish their money back. 

12 minutes ago, Poison Girl said:

Yet again, they rush to give the big fish their money back. 

Employees got their bonuses, early.

https://www.cnbc.com/2023/03/11/silicon-valley-bank-employees-received-bonuses-hours-before-takeover.html

https://www.cnbc.com/2023/03/12/treasury-secretary-janet-yellen-says-us-government-wont-bail-out-silicon-valley-bank.html

who is to big to fail

Edited March 13, 20232 yr by brickolodon