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E119: Silicon Valley Bank implodes: startup extinction event, contagion risk, culpability, and more
All-In with Chamath, Jason, Sacks & Friedberg
Cryptocurrency and the Banking System
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- Businesses need FDIC insurance for $25 million accounts to have confidence in the economy and the banking system.
- Crypto is very liquid and people are trying to free up cash, so it is a contagion that could lead to more financial instability.
- Stablecoins are a better option right now because they are more liquid than crypto.
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