*COINBASE: $240M BALANCE IN CASH AT SIGNATURE AS OF FRIDAY

— zerohedge (@zerohedge) March 12, 2023

will25u said:

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*COINBASE: $240M BALANCE IN CASH AT SIGNATURE AS OF FRIDAY

— zerohedge (@zerohedge) March 12, 2023

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jt2hunt said:

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How is this not a bailout?

Says the fed is protecting the depositors.

The bond and securities holders will lose the money.

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cone said:

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this is so stupid there's no ****ing contagion here unless you think raising interest rates is the contagion

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cone said:

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this is so stupid there's no ****ing contagion here unless you think raising interest rates is the contagion

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bmks270 said:

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will25u said:

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*COINBASE: $240M BALANCE IN CASH AT SIGNATURE AS OF FRIDAY

— zerohedge (@zerohedge) March 12, 2023

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Coinbase moved the money they had at failed Silicon Valley Bank to Signature Bank.

Ouch!

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cone said:

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how is this not just TARP all over again?

unless interest rates are going to reverse?

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suburban cowboy said:

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I'll be making a sizeable withdrawal tomorrow

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samurai_science said:

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suburban cowboy said:

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I'll be making a sizeable withdrawal tomorrow

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let the panic begin

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aggiehawg said:

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samurai_science said:

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suburban cowboy said:

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I'll be making a sizeable withdrawal tomorrow

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let the panic begin

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Sizeable means how much? LOL.

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At my direction, @SecYellen and my National Economic Council Director worked with banking regulators to address problems at Silicon Valley Bank and Signature Bank.

I’m pleased they reached a solution that protects workers, small businesses, taxpayers, and our financial system. https://t.co/CxcdvLVP6l

— President Biden (@POTUS) March 13, 2023

I’m firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.

I’ll have more to say on this tomorrow morning.

— President Biden (@POTUS) March 13, 2023

The question now becomes how the SVB collapse impacts interest rates.

If this government backstop is the solution, it’s time to get back to fighting inflation.

We are on our 21st consecutive month of 5%+ inflation.

The Fed broke the system and didn’t even accomplish their job.

— The Kobeissi Letter (@KobeissiLetter) March 13, 2023

will25u said:

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At my direction, @SecYellen and my National Economic Council Director worked with banking regulators to address problems at Silicon Valley Bank and Signature Bank.

I’m pleased they reached a solution that protects workers, small businesses, taxpayers, and our financial system. https://t.co/CxcdvLVP6l

— President Biden (@POTUS) March 13, 2023

I’m firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.

I’ll have more to say on this tomorrow morning.

— President Biden (@POTUS) March 13, 2023

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bmks270 said:

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will25u said:

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*COINBASE: $240M BALANCE IN CASH AT SIGNATURE AS OF FRIDAY

— zerohedge (@zerohedge) March 12, 2023

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Coinbase moved the money they had at failed Silicon Valley Bank to Signature Bank.

Ouch!

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DallasAg 94 said:

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samurai_science said:

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aggiehawg said:

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samurai_science said:

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suburban cowboy said:

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I'll be making a sizeable withdrawal tomorrow

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let the panic begin

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Sizeable means how much? LOL.

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the problem is 50 million people trying to do the same thing

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I doubt 50 million people can withdraw more than $1K and hold it more than a few days.

Of the 5-10M who can actually do that... most of them don't need to.

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aggiehawg said:

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will25u said:

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At my direction, @SecYellen and my National Economic Council Director worked with banking regulators to address problems at Silicon Valley Bank and Signature Bank.

I’m pleased they reached a solution that protects workers, small businesses, taxpayers, and our financial system. https://t.co/CxcdvLVP6l

— President Biden (@POTUS) March 13, 2023

I’m firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again.

I’ll have more to say on this tomorrow morning.

— President Biden (@POTUS) March 13, 2023

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Okay. Now I'll panic if he thinks he can say anything that make sense.

Greenspan said, "Irrational exuburance," once and tanked the stock market.

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Franklin Comes Alive! said:

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Numbnuts cornpop is involved now to make sure he gets his 10%


Can't make this **** up

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Deplorable said:

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bmks270 said:

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will25u said:

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*COINBASE: $240M BALANCE IN CASH AT SIGNATURE AS OF FRIDAY

— zerohedge (@zerohedge) March 12, 2023

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Coinbase moved the money they had at failed Silicon Valley Bank to Signature Bank.

Ouch!

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Even if Coinbase goes belly up, you can just transfer bitcoin to another exchange or a wallet.

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BOOM: "we no longer expect the FOMC to deliver a rate hike at its March 22 meeting with considerable uncertainty about the path beyond March." - Goldman

— zerohedge (@zerohedge) March 13, 2023