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? 

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Timestamps:

0:00 Intro

10:50 Recap 

https://twitter.com/biancoresearch/status/1634885127179325440 

22:40 Balaji

https://twitter.com/balajis/status/1634297491507273730 

28:05 Joint Statement from FDIC, Fed, Treasury

https://home.treasury.gov/news/press-releases/jy1337 

32:40 Silvergate says it would have been fine

https://twitter.com/tarunchitra/status/1635130119030468608 

36:25 Bank Stocks Today

https://twitter.com/krugermacro/status/1635272871563132928 

37:10 Circuit Breaker Day

https://twitter.com/EricBalchunas/status/1635277429932699650 

38:14 XLF Banking sector:

https://www.tradingview.com/chart/pabiN1CM/?symbol=AMEX%3AXLF 

38:37 Two Tiers of Banks

https://twitter.com/DavidSacks/status/1634991519735361536 

39:25 Jake: “Will regulators get in the way of other banks providing services to crypto customers?" 

https://twitter.com/jchervinsky/status/1635062063583363072 

Yano gives 6 options

https://twitter.com/JasonYanowitz/status/1635092782665846784  

42:40 Effect on USDC

https://twitter.com/circle/status/1634391505988206592 

DAI too

https://imgur.com/r52CCX1 

44:40 Chadallaire 

https://twitter.com/jerallaire/status/1635059024050937856?s=20 

48:20 USDC:USD conversions are good to go 

https://twitter.com/coinbase/status/1635276541545566215?s=20 

52:20 10 yr yield down

https://twitter.com/Fxhedgers/status/1635283433684627457 

52:50 Pricing in new interest rates

https://twitter.com/tier10k/status/1635218135405195264 

57:20 Meanwhile, crypto: 

https://twitter.com/Matt_Hougan/status/1635283436981358595 

58:25 Kraken Crypto Prices: 

https://pro.kraken.com/app/trade/ETH-usd

59:45 Banks down, Bankless up

https://twitter.com/DaRealMilkBagz/status/1635317764306112520 

1:00:00 Binance buying 1 billy BTC

https://twitter.com/cz_binance/status/1635131601884700674 

1:01:07 NLW Meme

https://twitter.com/nlw/status/1635283902339375106 

1:03:29 Quintenz

https://twitter.com/brianquintenz/status/1634173078828621825 

1:04:00 Attack on Crypto? 

https://twitter.com/nic__carter/status/1635328056234766337 

1:04:37 Don’t let them blame this on crypto

https://twitter.com/RyanSAdams/status/1635058083071410176?s=20 

https://twitter.com/TrustlessState/status/1635049623407726596?s=20 

1:05:05 Memes

https://twitter.com/ErikVoorhees/status/1635282975100407812?s=20 

https://twitter.com/milesjennings/status/1635319531790045184?s=20 

1:05:50 Closing & Disclaimers  

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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/disclosures