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VitalSigns posted:Why doesn't the bank just mint a proprietary token pegged 1:1 to the US dollar and pay their depositors back with that.
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Mar 10, 2023 22:09
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BoldFace posted:Just throw more money into the money pit. lol
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Mar 10, 2023 22:21
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VitalSigns posted:Considering how consolidated the banking sector became after the 09 crisis, is the 16th largest bank even big enough to be too-big-to-fail? so in literally hundreds of cases banks fail and the fdic quietly brokers a sale where the fdic guarantees some of the losses to the buyer. the fdic would have done that had the bank made it to 5:30 today over the weekend. however, SVB had $43 billion in withdrawals yesterday and were almost a billion in the red cash-wise at the end of yesterday, so, uh, they could not
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Mar 10, 2023 22:37
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BoldFace posted:Just throw more money into the money pit. Those startups in need of above investors can join my new site for tech entrepreneurs, onlyfunds.com Raskolnikov2089 fucked around with this message at 22:50 on Mar 10, 2023 |
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Mar 10, 2023 22:48
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Raskolnikov2089 posted:Those startups in need of above investors can join my new site for tech There is 0% chance that onlyfunds.com is not already a thing and exactly what you are joking about. I don't even need to look it up. Aramis fucked around with this message at 03:11 on Mar 11, 2023 |
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Mar 10, 2023 22:50
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Aramis posted:There is 0% chance that onlyfunds.com is not already a things and exactly what you are joking about. I don't even need to look it up. It does and it is, in fact, exactly what you think it is.
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Mar 10, 2023 23:00
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No product, only funds!
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Mar 11, 2023 00:02
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jokes posted:Big banks are usually way more regulated and are way more on top of their compliance, lol *Looks at Wells Fargo's weekly criminal fine for knowingly laundering cartel proceeds, fraudulently opening accounts for random people to collect fees, etc.* Uh, no, Peg.
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Mar 11, 2023 02:26
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USDC might be depegging; https://www.coindesk.com/markets/2023/03/11/usdc-stablecoin-depegs-from-1-circle-says-operations-are-normal/
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Mar 11, 2023 02:27
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Is this poo poo with SVB going to cause a RealEconomy major problem or is it just going to be a bad fart?
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Mar 11, 2023 02:48
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Mar 11, 2023 02:49
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Nessus posted:Is this poo poo with SVB going to cause a RealEconomy major problem or is it just going to be a bad fart?
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Mar 11, 2023 03:05
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Sentient Data posted:No product, only funds! that is in no way the bitcoin mantra
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Mar 11, 2023 03:06
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https://twitter.com/binance/status/1634361554543030273 Everything is fine.
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Mar 11, 2023 03:10
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kw0134 posted:SVB wasn't systemic but a bunch of tech companies might have liquidity issues that might cause them to have problems; we'll see how bad those are. The issue isn't necessarily that SVB is some highly integral part of the banking system, but that a ton of banks kept a ton of treasuries during the zero-rate days and we don't know how much of it is going to wreck balance sheets since gov't bonds are high grade assets that banks like to keep for their reserve requirements. Ideally most banks are better capitalized in more diversified ways than a giant pile of bonds, and that they aren't beholden to a very specific industry that is undergoing a bit of turmoil. the other stuff.
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Mar 11, 2023 03:12
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Three Olives posted:https://twitter.com/binance/status/1634361554543030273 normal risk-management procedural step to take while we monitor the situation.
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Mar 11, 2023 03:19
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Nessus posted:Was Peter Thiel involved here? If that’s true, then yes he is.
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Mar 11, 2023 03:21
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https://twitter.com/parrotcapital/status/1634368550696816640?s=46&t=OVkU_Z8nK0TNmzLIuCYVFg Thank you, Satan!
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Mar 11, 2023 03:35
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Ok, now if SVB was indeed holding a non-trivial amount of the fiat holding up USDC... Then I take back what I said earlier. The repercussions of this mess have the potential to make some serious sparks fly.
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Mar 11, 2023 03:47
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Kind of got buried in divabot's feed among the excitement, but https://twitter.com/davidgerard/status/1633984881028890625 If this lawsuit is successful, can this be cited as precedent in administrative rule-making that ETH, etc. are securities?
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Mar 11, 2023 04:04
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https://twitter.com/whale_alert/status/1634385275848921089 https://twitter.com/PeckShieldAlert/status/1634387076170010625
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Mar 11, 2023 04:06
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Horseshoe theory posted:https://twitter.com/parrotcapital/status/1634368550696816640?s=46&t=OVkU_Z8nK0TNmzLIuCYVFg I know that this is probably going to be nothing tomorrow because idiots keep buying in and we're not allowed joy in this world but, just in case it does crash some poo poo: L M A O
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Mar 11, 2023 04:14
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Yesssssss. https://twitter.com/circle/status/1634391505988206592?s=20
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Mar 11, 2023 04:19
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istewart posted:Kind of got buried in divabot's feed among the excitement, but This is in state court so if it becomes precedent it would only apply in New York.
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Mar 11, 2023 04:20
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jack’s mom: what the gently caress do you mean “he paid in beenz”??!
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Mar 11, 2023 04:22
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Pham Nuwen posted:Lemme turn this chair around backwards, sit down, and comment that we're all having a lot of fun here today but Silicon Valley Bank was founded in 1983, it survived the dotcom crash, and while it seems that they were pretty badly mismanaged lately, pretending they're another crypto scam run by idiot techbros is kind of stupid. Up until they were news, they were just a bank. I assume their regular operations were more or less as boring and conservative as most banks, or at least as boring and conservative as you can be when your customers are VCs and companies building Snapchat But For Dogs. Willy Bigdick is a funny name but he got outfunnied by Scam Bankman-Fraud and we know how that story went, so
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Mar 11, 2023 04:22
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It took me way too long to realize they're actually taking about real money for once, loving lol if that money was actually there (and even if not it's the perfect smokescreen/scapegoat while fleeing the country)
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Mar 11, 2023 04:38
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This is a situation that sophisticated financial analysts would say is "lol. Lmao, even."
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Mar 11, 2023 04:39
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https://twitter.com/coinbase/status/1634399032767307776 Everything is fine, normal business operations on Monday, we promise!
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Mar 11, 2023 04:52
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Three Olives posted:https://twitter.com/coinbase/status/1634399032767307776 "We have enough reserves!" "Can we convert now?" "No - all the reserves are elsewhere!"
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Mar 11, 2023 04:55
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I say to bitcoiners: HAVE FUN STAYING POOR LOL
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Mar 11, 2023 05:06
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Horseshoe theory posted:"We have enough reserves!"
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Mar 11, 2023 05:09
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Three Olives posted:https://twitter.com/coinbase/status/1634399032767307776 well, most banks do only work on weekdays
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Mar 11, 2023 05:16
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Mumpy Puffinz posted:well, most banks do only work on weekdays but.... 
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Mar 11, 2023 05:36
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Boxturret posted:but.... cool. call me when I can pay my rent with bitcoin
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Mar 11, 2023 05:39
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Boxturret posted:but.... But you can only exchange using Coinbase, Binance, etc. and they're all 'updating' or whatever over the weekend?! 
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Mar 11, 2023 05:47
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The Fed is likely gonna shotgun marriage SVB and cover all depositors ala Bear Stearns in 2008, and USDC will get bailed out via that. That's too bad, because the crypto bros were about to learn a valuable lesson. Too many dumb silicon valley companies are going to get hurt if they just do FDIC coverage, so there will be a lot of pressure to get something done.
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Mar 11, 2023 06:10
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Vietnom nom nom posted:The Fed is likely gonna shotgun marriage SVB and cover all depositors ala Bear Stearns in 2008, and USDC will get bailed out via that. That's too bad, because the crypto bros were about to learn a valuable lesson. Too many dumb silicon valley companies are going to get hurt if they just do FDIC coverage, so there will be a lot of pressure to get something done. no silicon valley have FDIC insurance. I don't think you know what FDIC means
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Mar 11, 2023 06:12
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bagholders seriously love dumb graphs.
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Mar 11, 2023 06:13
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Vietnom nom nom posted:The Fed is likely gonna shotgun marriage SVB and cover all depositors ala Bear Stearns in 2008, and USDC will get bailed out via that. That's too bad, because the crypto bros were about to learn a valuable lesson. Too many dumb silicon valley companies are going to get hurt if they just do FDIC coverage, so there will be a lot of pressure to get something done. Nah, VCs will take a hit, the shareholders of SVB are going to get hosed harder. The only people who are probably going to just be mildly inconvenienced are depositors probably. Whether or not anyone will learn anything remains to be seen.
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Mar 11, 2023 06:16
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