SVP & Silvergate collapse -> USDC insolvent -> Run on USDC -> Fund Withdrawal from other partner banks -> Run on other banks -> more bank collapses

At Risk:

-Bank of New York Mellon

-Citizens Trust Bank

-Customers Bank

-New York Community Bank (a division of Flagstar Bank, N.A.),

-Signature Bank

-Silicon Valley Bank (Insolvent)

-Silvergate Bank (Insolvent)