has been and the implications of that government response, because we're recording this on Monday morning, and so the government announced late Sunday evening that it would make depositors whole at both Signature Bank and Silicon Valley Bank. So what happened here, and what are the origins of what is now the second biggest bank failure in U.S. history after the collapse of Washington Mutual in 2008? Yeah, so these banks basically had business models that were focused on sort of bubbly industries, I guess. So as the Fed has moved us away from a world of zero interest rates to fight inflation, certain industries have come under more pressure than others, crypto being the first to go, obviously a very speculative sort of investment environment. So to the extent you can get interest rates in the real world, you sort of get less interested in what's going on in crypto. So Signature and Silvergate were big crypto banks, they sort of bet the house on banking the crypto sector. And what (5/36)
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