The FDIC has taken SVB in receivership and will manage its resolution. This has happened hundreds of times over the last decades and there is a well tested game plan as I mentioned earlier. Thread.
I just longed $USDC with $250k
Should be easy money
They only held 4% of cash reserves in Silvergate
Worst case scenario $USDC worth $0.96
Circle made a $700m profit in Q4 2022
They have cash… Lots of cash…
🏦📉 SVB Crash Explained📉🏦
Silicon Valley Bank—#16 largest US bank with $212B — just crashed 60% in 1 day & fell 22% post-close. Stock halted now.
@BillAckman is calling a US gov bailout.
@peterthiel is calling a bank run.
JPM, BAC, WFC all dropped 6%.
What's next?
Is this (a) Lehman moment or (b) overblown?
Are depositors screwed or just equity investors?
And what do the terms "AFS", "HTM", "NII", & "FDIC Insurance" actually mean?
👇THREAD ON SVB
🧵/
The problem Silicon Valley Bank faces today is VERY different than the 2007-2009 banking crisis.
$SIVB was thriving. Credit losses are fairly low. Its deposits TRIPLED from 2019 to ‘21.
How’s that a problem?
It sounds great, right?
Well, it’s a Wonderful Life…
🧵👇
1/N Math on why its impoosible for FRAX to depeg and how @fraxfinance, @samkazemian
can actually buy $46mn of anything $FXS, $CVX, $CRV, $SDL.
Reposting as I didn't realize how unreadable that was on dark mode. Thanks for pointing it out @808_Investor
1/5. Some interesting updates, full transparency and lead to protect users:
As it turns out, most UST pairs were 0 fee to begin with. (I didn't know that, our team had to tell me.) So, not much UST there.
We do have...
Terra is a case study as why you don’t tie the economic security of a blockchain to an unsustainable ponzi
Keep the musical chairs capital rotation games at the app-layer, not the L1 chain layer
There’s dApps that had little to do with UST being affected by this halt
1/ Introducing the 4pool - between @fraxfinance, TFL and @redactedcartel we pretty much own all the cvx
UST-FRAX-USDC-USDT
Curve wars are over, all emissions are going to the 4pool
1/ I have achieved almost everything that I set out to achieve in life and I'm not even 30 yet
This isn't a brag, this is a warning to young people just getting started in crypto: you don't really want to "make it" - what you want to do is turn making it into a perpetual process
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As promised another opportunity to win some Christmas Gifts Via Elumia/CoachK
@PlayElumia looks like World of Warcraft and I have seen the actual gameplay in person!
Definitely sign up to win an allocation below.
Do not forget to follow, RT and Like!
https://t.co/DvGrSTsgXs
Its Chanukah and that means....
Gelt or money time.
Who here is interested in winning $1000?
I'm giving this away on bsc in usdc.
All you need to do is like retweet and follow this post and there will be 8 lucky winners.
Its the holiday season lets give everyone!