
CD93: Bank Runs and Macro Update with Dylan LeClair
Citadel Dispatch
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Crypto, Signet, Send Network for Silvergate - It's Zero in Straight Deposit
The up-down signature means depositors aren't losing their money. It says, so shareholders and certain unsecured debt holders will not be protected. Senior management has also been removed. Any losses to the deposit insurance fund to support uninsured depositors will be recovered by a special assessment on banks as required by law. The bank was almost like a slush fund of, it was like an off-chain stable coin, right? If you think about it like that, where the sales signature and Silvergate, and even to an extent, the Silicon Valley bank, is shutting down.
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