Most shorted stock in America.
Silvergate Bank.
Everybody is watching Silicon Valley Bank, but this is the bank run that will bring the shitcoin crypto industry to it's knees.
Discussion
Nah I don’t think so… it will always exist like death and taxes until it’s not allowed to.
Silvergate exists in a precarious place, where they're pretty big, but not 'too big to fail'.
They might be dead in the water i agree, as I don’t think they will be bailed out. Just shame really, as their woes stem from poor liquidity management . Maturity duration miss match. It’s like needing your bitcoin tomorrow but you bought it at 25k and now it’s 20.2.. cos like a tree fell on your car and insurance ain’t covering.
They were making their money by taking Dollars for Shitcoins and basically running a money laundering operation. They deserve the flaming death spiral that they are in now.
I hear that - the VC’s bank, pump and dump for the big boys.