It's interesting.
Startups are in a situation in which they need to decide if they want to sell the USD they still have in their bank accounts (if able to withdraw) for #Bitcoin and expose themselves to volatility (with risk of losing a %), or remain with their USD and risk of losing everything.
Conundrum.
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Do you think they are still able to withdraw?
From SVB? No.
The ones with other banks maybe still can.
But hey, it's the weekend;
Monday - The Commonwealth Day would make a great day for a new banking holiday, wouldn't it?
A banking holiday that never ends 😍
Scary
Could you imagine how sick this would be!? Don’t think this will happen but still a crazy thought 😄
Yea. All wealth over X in any of the banks confiscated. New CBDC safe world solution announced.
But practically, if there would be impact to significant share of retail, I don't see why not just print bambillions and kick the can down once again to avoid panic.
It really is the question what their goal looks like. If we can’t tell, we don’t know which path they will choose
I wonder why that kind of news often break close to weekends 🤷♂️
I have no idea 🤷🏻♂️🤣🤪
This doesn't have the answer, but still interesting read.
In 1933, 1 month after the banking holiday to "instill confidence" (aka money printing), follows the 6102 to ban the hoarding of gold.
*so, from my analysis here, this might be the most stupid week yet to be selling your Bitcoin
To my knowledge all accounts are covered up to $250k from FDIC insurance. And those that needs more than $250k liquidity they usually spread it around different banks
FDIC doesnt have enough assets compared to deposits in USA banks.
Yeah if multiple banks start failing at the same time they probably would not be able to cover it but we are talking only about one bank
Usually.
What if other banks are involved in a bank run?
What SVB did, I bet is not a rare thing.
