dgerard,
@dgerard@awful.systems avatar

So basically, Signature and Silvergate did. Their problem was not crypto directly, but crypto customers - they had billions in deposits which didn’t stay in the bank, the customers kept withdrawing huge amounts at short notice like it was their own money or something. Neither bank could quite cover the deposits at such short notice, and eventually they just died. Both were kept working in that time. Silicon Valley Bank went down soon after in the same way, except the hot money depositors were VCs and startups.

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