Nobody here probably knows even 1% of the complex variables involved and what options they had and what else they could have tried, so this is just for entertai

Nobody here probably knows even 1% of the complex variables involved and what options they had and what else they could have tried, so this is just for entertaining idle speculation. But if the bank knew that there was a chance that they could go under, their best bet for saving themselves might have been one of the following (probably) illegal things. 1) Blatantly pump and dump and manipulate some crypto in some way for quick cash. It would be a gamble of course, but maybe better to take a hit to your reputation and draw some minor legal scrutiny and pay some fine later rather than the alternative. 2) Do the usual crooked thing: in closed door meetings with the Feds, say you're going to go under if you don't get some kind of preemptive bailout, and list out the ripple effects to the economy.