Still think TITNC3: Return of the Iceberg was peak

I’m here for it

https://twitter.com/unusual_whales/status/1634403270885261313

 

So funny and so scary. lol

 

I was out of town all week. Seems like some banks got fucked. Neat.

 

Stable eh?

 

Unfortunately they used ketchup packets

 

I see what you did there.

 

Roku lost eight years of operating capital when the bank collapsed because it was over 450 million in uninsured cash. I wonder how many more will come forward with statements like this. It will only be the publicly traded companies because they’re the only ones obligated to reveal the losses. https://www.thewrap.com/roku-had-48...-whose-failure-is-rolling-the-tech-world/amp/

 

SVB is a tech and crypto heavy bank. It stores funds and also provides loans mainly to those types of industries. It had a $42B withdrawn in a single day. At the end of that day it's balance sheet was only negative $970M. They had 20% of their total assets held in cash. The where never given any time before the regulators shut the doors. Like zero time to unwind any other assets.

Regulators shut down a $200B bank over coming up short on .5% of their assets. POINT fucking FIVE percent. That bank was also given no time to unwind assets to meet further demand. WTF? Why?

Did I mention they back a lot of crypto's? This ain't conspiracy. It's fact. The SEC failed to gain control of crypto early and it scares them. So they scuttled a US bank to try and regain that control. Watch closely for new crypto reg's that pass congress in the next few months. SVB and FTX will be the focal point in needing to regulate the industry.

The funniest thing is it might have the opposite effect, at least in the short term. People will start to not trust banks. Bank runs will happen. At least some of that money will get dumped into crypto. So says my crystal balls. It also might be the copious amount of gummies but time will tell.

 

My crypto could go up a lot and still be down. Very similar to BBIG in that way

 

You really do make horrible financial choices. lol

 

I’ve never considered this possibility. Could it be me?


Nah, it’s the stocks and crypto’s fault

 

i think the whole point of them stepping in was to stop other bank runs, there was 3 other banks down 60% that day

 

That doesn’t stop them, that just encourages large uninsured depositors to withdraw before the next one gets shut down. Be the first out or be left at the mercy of whatever happens after collapse

 

its funny how large institutions can straight up pull all their money out the bank, but let one of us try to pull out $100k

it would take weeks