FDIC shuts down Silicon Valley Bank, crash incoming? Update: 2nd bank, Signature Bank in NY closed

[Mr swag]

If you had less than 250K invested you good.

shyt means next to nothing. I guess my Nasdaq stocks will be fukked up for awhile but other than that Tech companies will consolodate and get stonger and the uncompetative ones will die.

Those people lose access to that money for MONTHS if they are lucky

 

[☑︎#VoteDemocrat]

 

[Black Mamba]

250k only?
Bunch of startups if they had they money there died
If any Millionaires had over that amount there they are fukked
If I’m not mistaken my god

 

[69 others]

I thought this only happened to crypto exchanges and in DeFi?

They most likely ended up in this position cause of crypto. They were a big lender in the startup and crypto space. As interest rates rise a lot of these firms will keep failing.
This might also cause a ripple effect depending on how regulators handle it. People with large deposits with them will be unable to pay their own creditors and get forced into bankruptcy and so on.

 

[Wiseborn]

Those people lose access to that money for MONTHS if they are lucky

If I put money in a bank other than a checking account I'm not expecting to get the money in my hands like that.

I doubt if they had a bunch of old aunties who used their accounts to write checks to pay the gas bill.

 

[Atlrocafella]

Feds have it under control. If you had significantly more than $250K at SVB, you’re probably fukked, other than that, nothing to really worry about.

 

[Jean toomer]

If you had less than 250K invested you good.

shyt means next to nothing. I guess my Nasdaq stocks will be fukked up for awhile but other than that Tech companies will consolodate and get stonger and the uncompetative ones will die.

That’s the problem with SIV, 95% of the accounts were more than 250k. All of their long term investments (using account holders money) became trash once interest rates started going up quickly. Nobody wants to be the last fool to ask for their money in a bank run.

 

[Jean toomer]

Feds have it under control. If you had significantly more than $250K at SVB, you’re probably fukked, other than that, nothing to really worry about.

Again 95% of accounts were more than 250K…it was a founders bank.

 

[TRUEST]

Not sure why folks are panicking. Thought money isn’t everything. Thought money can’t buy happiness? Will the idiots who have ever uttered this nonsense get in here and help make this make sense????

 

[Black Mamba]

Again 95% of accounts were more than 250K…it was a founders bank.

 

[Oatmeal]

Explain this to me in Coli nikka terms

TikTok and OnlyFans stole some money

 

[Atlrocafella]

Again 95% of accounts were more than 250K…it was a founders bank.

Yikes, sucks for them, but this isn’t an indication of what will happen to the broader banking market. The Feds have systems in place to keep the system in tact. That was largely my point.

 

[Black Mamba]

 

[boriquaking]

If the feds are moving in, that’s a good thing. Thread title is bait

 

[Jean toomer]

Yikes, sucks for them, but this isn’t an indication of what will happen to the broader banking market. The Feds have systems in place to keep the system in tact. That was largely my point.

Hopefully not, but these runs can spread. People are irrational. Bank stocks are getting murdered right now because everybody is wondering what’s under the kimono of other banks in light of interest rates.