Finance Financial Doom and Gloom

Discussion in 'News and Events' started by Stanthropical, Mar 11, 2023.

?

R U SCARED???

  1. Yes

    50.0%
  2. No

    33.3%
  3. Ha ha ha I'm a shark and sharks only eat fish. And people

    16.7%
Multiple votes are allowed.
  1. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
    Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours
    PUBLISHED FRI, MAR 10 2023 3:59 PM EST
    UPDATED FRI, MAR 10 2023 8:38 PM EST
    https://www.cnbc.com/amp/2023/03/10/silicon-valley-bank-collapse-how-it-happened.html

    FDIC Creates a Deposit Insurance National Bank of Santa Clara to Protect Insured Depositors of Silicon Valley Bank, Santa Clara, California
    Friday, March 10, 2023
    https://www.fdic.gov/news/press-releases/2023/pr23016.html

    Silicon Valley Bank failure could wipe out 'a whole generation of startups'
    March 11, 20232:00 AM ET
    https://www.npr.org/2023/03/11/1162805718/silicon-valley-bank-failure-startups

    More than 85% of Silicon Valley's Bank's Deposits Were Not Insured. Here's What That Means for Customers
    MARCH 10, 2023 6:38 PM EST
    https://time.com/6262009/silicon-valley-bank-deposit-insurance/


    What does Silicon Valley Bank’s collapse mean for the financial system?
    A big lender to American startups goes under
    Mar 10th 2023 | WASHINGTON, DC
    https://www.economist.com/finance-a...-banks-collapse-mean-for-the-financial-system
     
  2. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
    LOL:


     
  3. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
  4. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
    Crypto woes:


    USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank
    https://cointelegraph.com/news/usdc-depegs-as-circle-confirms-3-3b-stuck-with-silicon-valley-bank/


    Traders Dump USDC After Silicon Valley Bank and Silvergate Fail
    USDC issuer Circle said it banked with failed SVB and Silvergate.
    https://thedefiant.io/traders-dump-usdc


    Bitcoin on track for ~10% weekly loss on Fed fears, end of Silvergate Bank
    Mar. 10, 2023 7:26 PM ETBitcoin USD (BTC-USD)VYGVQ, ETH-USD, SI By: Jessica
    https://seekingalpha.com/news/39466...ekly-loss-on-fed-fears-end-of-silvergate-bank


    Crypto Wallets Withdraw $902M USDC From Centralized Exchanges in Past 24 Hours Amid SVB, Silvergate Shutdowns
    $11.4 billion of USDC reserves are held in the form of cash at Reserve Banks, which include the two members of the Federal Reserve System.
    By Sage D. Young
    Mar 10, 2023 at 7:50 p.m. UTC
    Updated Mar 10, 2023 at 8:33 p.m. UTC
    https://www.coindesk.com/business/2023/03/10/crypto-wallets-withdraw-902m-usdc-from-centralized-exchanges-in-past-24-hours-amid-svb-silvergate-shutdowns/?outputType=amp

    Circle’s exposure to US banks could top $9B
    https://cointelegraph.com/news/circle-s-exposure-to-u-s-banks-could-top-9b/amp
     
  5. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
    Silvergate Bank voluntary liquidation:

    How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout
    A deep dive into regulatory filings shows how Silvergate Bank's collapse was, in a strange way, the ideal scenario for a failing institution. Sure, shareholders got wiped out, but depositors are made whole and the Federal Deposit Insurance Corp. isn't putting in a dime.
    By Bradley Keoun, Helene Braun
    Mar 10, 2023 at 10:08 p.m. UTC
    Updated Mar 10, 2023 at 10:32 p.m. UTC
    https://www.coindesk.com/tech/2023/...anks-no-us-government-bailout/?outputType=amp


    Bitcoin, ether fall after go-to crypto bank Silvergate announces liquidation
    PUBLISHED THU, MAR 9 2023 7:35 AM EST
    UPDATED THU, MAR 9 2023 4:18 PM EST
    https://www.cnbc.com/amp/2023/03/09...to-bank-silvergate-announces-liquidation.html
    Replacing Silvergate’s Network Is a Challenge for Crypto Industry: JPMorgan
    Some of the services provided by Silvergate will migrate to other banks such as Signature Bank, Provident Bancorp, Metropolitan Commercial Bank and Customers Bancorp, the report said.
    By
    Will Canny

    Mar 10, 2023 at 11:52 a.m. UTC
    Updated Mar 10, 2023 at 9:22 p.m. UTC
    https://www.coindesk.com/business/2023/03/10/replacing-silvergates-network-is-a-challenge-for-crypto-industry-jpmorgan-jpmorgan/?outputType=amp
     
  6. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
    Prediction of a chode:

    Cohodes Says Signature The Next Bank To Fall: Along with warning investors about Silvergate, Cohodes has a stern warning for investors regarding Signature Bank(NASDAQ:SBNY).
    https://www.benzinga.com/amp/content/31301740


    Crypto bank Signature slides on Friday amid troubles at Silicon Valley Bank, Silvergate
    PUBLISHED FRI, MAR 10 2023 11:01 AM EST
    UPDATED FRI, MAR 10 2023 4:04 PM EST
    https://www.cnbc.com/amp/2023/03/10...oubles-at-silicon-valley-bank-silvergate.html


    Uh-oh! The crypto collapse has reached the real financial system / Silvergate’s troubles may make it harder to get out of crypto and into dollars.
    https://www.theverge.com/2023/3/4/23623964/crypto-silvergate-bank-run-stablecoins-dollars
     
  7. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
  8. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
  9. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
  10. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
  11. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀

    After SVB failure, regulators close crypto-friendly bank Signature Bank
    Romain Dillet@romaindillet / 6:50 AM CDT•March 13, 2023

    https://techcrunch.com/2023/03/13/a...rs-close-crypto-friendly-bank-signature-bank/
     
  12. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
  13. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
  14. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
    So, this happened...


    Press Release
    March 19, 2023
    Coordinated central bank action to enhance the provision of U.S. dollar liquidity
    For release at 5:00 p.m. EDT
    https://www.federalreserve.gov/newsevents/pressreleases/monetary20230319a.htm
    The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements...

    Is this 2008, but much worse?
     
  15. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
    ¯\_(ツ)_/¯

     
  16. MarcLipper

    MarcLipper Well-Known Member FCN Regular

    Money:
    4,632⛀
    Time will tell how this compares to 2008. I haven’t studied these bank failures but if they were deep in crypto, I don’t feel sorry for them. (Remember that 2022 Super Bowl commercial for Crypto? Many of the actors have distanced themselves for that hurriedly.).
    I do remember in 2008, the company I was involved with did about $1 million in sales/day. A bad day was $200,000. For 3 consecutive days, in 2008, we had zero net sales. The loan/credit market was vapor locked.
    Currently a lot of companies and banks are sitting on a bunch of cash and ready to pounce as businesses go insolvent or can be bought cents on the dollar. Several M&A consulting firms are already scouring for deal making.
     
  17. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
  18. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀
  19. Stanthropical

    Stanthropical De̸͍̺̺̓̾m̶̶̶ͫͫod̶̶̶ͩͩu̶̶̶ͧͧLaᴛ̶̶ⷮo̵̢̦̟͋̾̓r

    Money:
    207,914⛀

Share This Page