SVB Banking Crisis, Fed Pivot, BTC ETH price actionš
Bankless
Bankless
4.7 ā¢ 1.2K Ratings
šļø 14 March 2023
ā±ļø 69 minutes
šļø Recording | iTunes | RSS
š§¾ļø Download transcript
Summary
This was the 2nd largest bank failure in the United States! Ryan and David discuss the breaking story around the SVB banking crisis. What happened? Why? What's the effect on crypto, the rest of the financial markets, and the banking system?Ā
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Timestamps:
0:00 Intro
10:50 RecapĀ
https://twitter.com/biancoresearch/status/1634885127179325440Ā
22:40 Balaji
https://twitter.com/balajis/status/1634297491507273730Ā
28:05 Joint Statement from FDIC, Fed, Treasury
https://home.treasury.gov/news/press-releases/jy1337Ā
32:40 Silvergate says it would have been fine
https://twitter.com/tarunchitra/status/1635130119030468608Ā
36:25 Bank Stocks Today
https://twitter.com/krugermacro/status/1635272871563132928Ā
37:10 Circuit Breaker Day
https://twitter.com/EricBalchunas/status/1635277429932699650Ā
38:14 XLF Banking sector:
https://www.tradingview.com/chart/pabiN1CM/?symbol=AMEX%3AXLFĀ
38:37 Two Tiers of Banks
https://twitter.com/DavidSacks/status/1634991519735361536Ā
39:25 Jake: āWill regulators get in the way of other banks providing services to crypto customers?"Ā
https://twitter.com/jchervinsky/status/1635062063583363072Ā
Yano gives 6 options
https://twitter.com/JasonYanowitz/status/1635092782665846784 Ā
42:40 Effect on USDC
https://twitter.com/circle/status/1634391505988206592Ā
DAI too
https://imgur.com/r52CCX1Ā
44:40 ChadallaireĀ
https://twitter.com/jerallaire/status/1635059024050937856?s=20Ā
48:20 USDC:USD conversions are good to goĀ
https://twitter.com/coinbase/status/1635276541545566215?s=20Ā
52:20 10 yr yield down
https://twitter.com/Fxhedgers/status/1635283433684627457Ā
52:50 Pricing in new interest rates
https://twitter.com/tier10k/status/1635218135405195264Ā
57:20 Meanwhile, crypto:Ā
https://twitter.com/Matt_Hougan/status/1635283436981358595Ā
58:25 Kraken Crypto Prices:Ā
https://pro.kraken.com/app/trade/ETH-usd
59:45 Banks down, Bankless up
https://twitter.com/DaRealMilkBagz/status/1635317764306112520Ā
1:00:00 Binance buying 1 billy BTC
https://twitter.com/cz_binance/status/1635131601884700674Ā
1:01:07 NLW Meme
https://twitter.com/nlw/status/1635283902339375106Ā
1:03:29 Quintenz
https://twitter.com/brianquintenz/status/1634173078828621825Ā
1:04:00 Attack on Crypto?Ā
https://twitter.com/nic__carter/status/1635328056234766337Ā
1:04:37 Donāt let them blame this on crypto
https://twitter.com/RyanSAdams/status/1635058083071410176?s=20Ā
https://twitter.com/TrustlessState/status/1635049623407726596?s=20Ā
1:05:05 Memes
https://twitter.com/ErikVoorhees/status/1635282975100407812?s=20Ā
https://twitter.com/milesjennings/status/1635319531790045184?s=20Ā
1:05:50 Closing & DisclaimersĀ Ā
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosuresĀ
Transcript
Click on a timestamp to play from that location
| 0:00.0 | We have a banking crisis that just happened over the weekend. David, the second largest bank, |
| 0:10.9 | US history collapsed. Silicon Valley Bank SVB, so people are calling it. We've been monitoring |
| 0:17.5 | this all weekend. We wanted to give you guys an update. We do these special episodes |
| 0:23.2 | every once in a while. Usually when the world's on fire, something crazy is going on. |
| 0:28.2 | Yeah, we're just drinking from the fire hose and finding out more information as things go. |
| 0:33.2 | So we may even have some updates in this live stream. But David, what are we going to cover today? |
| 0:39.3 | Yeah. So all of this news broke almost exactly when we stopped recording the weekly |
| 0:45.1 | roll-up on Thursday. So all the, and it seems to be that this episode, I mean, news is still |
| 0:51.0 | breaking, but it's unless something big and new happens, it seems to be that all of this event, |
| 0:56.8 | all the events have happened between Thursday evening and Sunday evening. And then the markets |
| 1:03.0 | opened this Monday morning and the fallout of all those events have now taken place. It could be |
| 1:09.1 | that this whole entire story started and ended inside of the last three days. And so we weren't able |
| 1:14.6 | to cover it on the bankless Friday weekly roll-up, which is why we are doing this weekend roll-up |
| 1:20.4 | on Monday right now to cover what the hell just happened in the world of of finance and banking |
| 1:27.4 | and the Fed and Treasury and FDIC, Silicon Valley Bank, signature bank, silver gate bank, |
| 1:33.7 | the run on all of the banks, all of the the mid to low to here banks and the flight towards |
| 1:39.0 | the big banks. And is this overall an attack on crypto? I think is where this conversation will |
| 1:44.7 | eventually end. Ryan, were you, I was doom scrolling this weekend? How were you doing? |
| 1:50.7 | Yeah, I was like, look, I was doom scrolling this weekend. My big question was, was US, |
| 1:54.8 | USDC going to be okay? Right. That was definitely a big question in my mind. And also another |
| 1:59.7 | question, big question around us, a signature bank, because that was that was kind of the the next |
| 2:05.2 | that's where USDC has a whole bunch of its its scores as well. And then a big question |
... |
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