3 ms·
I'm surprised the top comment wasn't focusing on this bit of the statement: "We are also announcing a similar systemic risk exception for Signature Bank, New Y
by AviationAtom 4y ago
I'm surprised the top comment wasn't focusing on this bit of the statement:
"We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority."
- cragfar 4y agoThis is probably why they had to make this announcement. Regional banks were going to be a bloodbath tomorrow morning.
- chrisgd 4y agoCrypto focused bank and pretty small, even in consideration of historical bank runs
- School-Cotton 4y agoSignature had 100Bn in assets and is the third-largest bank to have failed in US history (after WaMu and SVB).
- chrisgd 4y agoApologies. Thought it was something else. Much bigger than I thought.
- School-Cotton 4y agoI suspect you’re confusing it with Silvergate, another crypto-focused bank that is in the process of going out of business.
- AviationAtom 4y agoI was just surprised crypto hasn't caused more carnage in the banks. SBF had more or less made that small bank his and was pumping massive amounts through it. I feel like that couldn't have been the only bank tied up with crypto.