Crypto’s banking crunch is in full swing. Silicon Valley Bank, Signature Bank and Silvergate Capital once served as a vital tripartite of lenders happy to take deposits from #crypto companies — but now they’ve all gone.
The demise of the trio has left an industry with already-thin links to the established banking system with even fewer options. conversion.
#RunOnTheBank #Silicon_Valley_Bank #SVBCrash #svb

👇Free to read
https://archive.is/S2Bl2

How Silicon Valley learnt to love the government. There is a broader charge of hypocrisy towards some of the venture capitalists who chafe against government regulation of tech but demanded regulators step in to help SVB depositors. Going online to plead for support “was an ‘atheist in a foxhole’ moment”, says one executive at a venture capital fund who was derisive of his peers’ conversion.
#RunOnTheBank #Silicon_Valley_Bank #SVBCrash #svb

👇Free to read
https://archive.is/ntQTC

Silicon Valley Bank collapses after tech start ups, their main customer, pull funds. Sort of a classic example of a "run on the banks" situation. People pull out, bank doesn't have enough money, more people keep pulling out...
#siliconvalley #runonthebank
https://www.irishexaminer.com/business/companies/arid-41090518.html