Roku 26% of its cash in SIVB Circle’s USDC, the second-largest stablecoin, with $43 billion market capitalization, held an undisclosed part of its $9.8 billion cash reserves at failed Silicon Valley Bank. 50% of all venture capital-backed startups in the US had exposure to Silicon Valley Bank Only 2.7% of Silicon Valley Bank deposits are less than $250,000. Meaning, 97.3% aren't FDIC insured. We might see the real impacts in coming days
Time to buy stock when the market crashes on Monday?
Damn. Is this our 2008?!
Still waiting for Lehman equivalent in this cycle.
Where can we find a list?
Shit is about to go south for Tech
Bailout is not limited to FDIC limit. That's just the guaranteed amount that comes immediately from the FDIC fund. No depositor lost a dollar in Wamu and Stearns.
No one is bailing out svm.
You never know. Did you forget that we socialize loss?
You thought those money got lost? Those money are mostly in treasury and mortgage backed securities. The issue is liquidity. Big banks are more than happy to take SIVB over.
Just because a depositor isn't FDIC insured does not mean that depositor forfeits all of their money in this situation. The bank still has assets, they will be liquidated, sold, restructured, whatever to meet it's obligations.
Yeah. You just take a niiiice hair cut. Little more of the top there, barber. Oh, yep just a liiiiittle more. There we go.
where's the list?
It’s just regional banks. Pretty much contained. But what this showed is that US Treasuries are our black swan pandoras box.
I hope I get paid. And the company I work for doesn’t have an account with them anymore.
Don’t forget Apple has 20% of its cash as well in SBV. I
Sauce?
Source?