⚯ Michel de Cryptadamus ⚯

New paper from #Yale and the #FederalReserve blames the 2023 banking crisis on (you guessed it) #crypto and Nerd Reich #VCs.

> "A clearer commonality between the six banks [that failed], the paper argues, is their exposure to risky depositor bases that other banks shied away from: #crypto firms and [tech] venture capitalists."

* American Banker: https://www.americanbanker.com/news/new-paper-hangs-march-2023-failures-on-business-model-risks
* Paper: https://www.chicagofed.org/publications/working-papers/2025/2025-04

#SiliconValleyCalif #SVB #SBNY #SignatureBank #FirstRepublic #a16z #Broligarchs #NerdReich #uspol #banking #finreg #Silvergate

Crypto and VC firms led to SVB's failure, researchers say

New research on the failures of Silicon Valley Bank and other regional banks in 2023 points to cyclicality of venture capital and the volatility of crypto as bigger factors than uninsured deposits or unrealized losses.

American Banker
Mar 11, 2025 at 3:38amWeb
Show threadwasabi brainMar 11, 2025
@cryptadamist the number of so called libertarians who demanded fdic cover deposits fully to bail out these banks was astonishingly not astonishing
Show thread⚯ Michel de Cryptadamus ⚯Mar 11, 2025

@virtualinanity "I have always found it quaint and rather touching that there is a movement [Libertarians] in the US that thinks Americans are not yet selfish enough."

- Christopher Hitchens