1/ SVB—WHAT WENT WRONG
* mgmt: debauched its balance sheet
* depositors >$250k: thought their deposit at a fractional-reserve bank wasn’t an unsecured loan to a leveraged borrower (it is)
* Fed as regulator: that morning, the top cop said Fed-supervised banks don’t have bank runs
🚨 ATTENTION 🚨
dear plebs,
today, we gather to celebrate
over 100k of you follow us and we're officially @strike
(RIP @ln_strike 🪦🙏)
to celebrate, we’re tipping up to $10k
to participate RT and:
- enable Lightning Tips on @Twitter
- or drop your strike username
LFG 🚀
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We have long been committed to transforming $GBTC and our other investment products into ETFs, and we’re proud to deliver on that long-standing commitment by submitting our 19B4 filing today to transform GBTC into a #Bitcoin Spot ETF. THREAD (1/4)