
Weekly Roundup 04/28/23 (First Republic in trouble, Hong Kong embraces crypto, did crypto cause the banking crisis?) (EP.420)
On The Brink with Castle Island
First Republic Out of Business
First Republic, we knew they were in trouble in mid-March when the banking crisis started. They're right there in terms of looking as troubled as SVB did or as Silvergate did. And yet they were given plenty of time to find multiple liquidity injections. Meanwhile, signature was just taken out on a Sunday night with no notice, no real time to find liquidity and save themselves. The disparate treatment there raises a ton of questions, I think.
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