as another bank is closed - update: 
https://twitter.com/NickTimiraos/status/1635044036041121792
NEW:
— Nick Timiraos (@NickTimiraos) March 12, 2023
*Signature Bank has been closed
*All depositors of Silicon Valley Bank and Signature Bank will be fully protected
*Shareholders and certain unsecured debtholders will not be protected
*New Fed 13(3) facility announced with $25 billion from ESF to backstop bank deposits pic.twitter.com/LKipIRMg1T
Signature is one of the main banks to the cryptocurrency industry
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No consequences. Just pile all your company's millions into this one sketch bank because Y Combinator is buddies, have a bank run because Peter Thiel told you to, you should have to take your frickin 5% haircut.
Just like the student loans. If you tell me the indebted students were done dirty and shouldn't have to pay, where's the punishment for the schools or the lenders that did them dirty?
At least I shortly stand to make $250 from the USDC panic sale
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