Discover and read the best of Twitter Threads about #SVB
Most recents (24)
#ACNH—亚数行1:1锚定离岸人民币的数字资产，现已登陆 #everPay ！
解锁流动性，摆脱 #Web3 内卷，为下一个亿级用户做好准备！👁
🤝与 #everPay：亚数行提供支付通道，支持 #everPay 业务，实时无 #Gas 费⚡。
与 @Permaswap：亚数行整合 #ACNH 进入 @Permaswap，间接提高资产流动性🌊。
解锁流动性，摆脱 #Web3 内卷，为下一个亿级用户做好准备！👁
🤝与 #everPay：亚数行提供支付通道，支持 #everPay 业务，实时无 #Gas 费⚡。
与 @Permaswap：亚数行整合 #ACNH 进入 @Permaswap，间接提高资产流动性🌊。
📌1️⃣ 探秘 #ACNH 发行方 —— 亚洲数字银行🔍
👋大家好！#ACNH 是亚洲数字银行发行的数字资产。
亚数行@AsiaDigitalBank于2019年获得马来西亚🇲🇾牌照，是一家数字银行，专注于普惠金融。
👋大家好！#ACNH 是亚洲数字银行发行的数字资产。
亚数行@AsiaDigitalBank于2019年获得马来西亚🇲🇾牌照，是一家数字银行，专注于普惠金融。
亚数行@AsiaDigitalBank致力于将传统银行业务与 #Web3 解决方案相结合，专注于利用区块链技术实现安全便捷的交易。
亚数行@AsiaDigitalBank积极拥抱🤗监管，逐步会和更多监管机构合作，将适时发行锚定更多法币的稳定币，逐步扩展更多市场。
亚数行@AsiaDigitalBank积极拥抱🤗监管，逐步会和更多监管机构合作，将适时发行锚定更多法币的稳定币，逐步扩展更多市场。
“If the U.S. government ... is now standing foursquare behind all bank deposits in the country, we, the people, should get something in return.”
See @monthly @CarterD about what we need for a stable, fair and equitable financial system. 🧵1/14 washingtonmonthly.com/2023/05/22/a-n…
See @monthly @CarterD about what we need for a stable, fair and equitable financial system. 🧵1/14 washingtonmonthly.com/2023/05/22/a-n…
“[T]he explicit guarantee extended to the globally systemic banks is now extended to everyone,” said Renita Marcellin (@aphisha28)of @realBankRefrom. “We have this implicit guarantee for everyone, but not the rules and regulations that should be paired with [them].” 2/14
What do we need? How about a stable banking system, “essential services—such as deposits, money transfers, and credit—on a universal basis,” and “a strong role for regulatory agencies that protect consumers from abusive practices.” 3/14
📈 Se la #recessione sarà dura come si comporterà il nostro amato #bitcoin? 📉
Abbiamo affrontato la questione nell'ultimo #CryptoPub insieme a @AlexOttaBTC 🍻
Qui il link per il Podcast👇
open.spotify.com/episode/1GvF3Y…
Vediamo un po' di riflessioni a questo riguardo 🧵🔥
Abbiamo affrontato la questione nell'ultimo #CryptoPub insieme a @AlexOttaBTC 🍻
Qui il link per il Podcast👇
open.spotify.com/episode/1GvF3Y…
Vediamo un po' di riflessioni a questo riguardo 🧵🔥
1/ La famiglia reale di Abu Dhabi è pesantemente short sull'azionario USA 🩸
@markets ha riportato la notizia che il fondo della Famiglia Reale è fortemente ribassista nei confronti del mercato USA.
bloomberg.com/news/articles/…
@markets ha riportato la notizia che il fondo della Famiglia Reale è fortemente ribassista nei confronti del mercato USA.
bloomberg.com/news/articles/…
0/🧵 @Tether_to announced $1.48b profits for Q1 2023 - omfg, and a bit of colour on their reserves
“IS $USDT BACKED?” is the oldest question in crypto
IMO, the appropriate question should be -> “IS $USDT FAIRLY COLLATERALISED?”
Here’s how I personally look at $USDT reserving… twitter.com/i/web/status/1…
“IS $USDT BACKED?” is the oldest question in crypto
IMO, the appropriate question should be -> “IS $USDT FAIRLY COLLATERALISED?”
Here’s how I personally look at $USDT reserving… twitter.com/i/web/status/1…
1/🧵By Q1’23 @Tether_to had issued $79.4b of digital tokens, and held $81.8b of assets -> in other words had net assets for $2.4b
Is this over-collateralisation enough? It depends through which lens you look at Tether:
1) Money transmitter (i.e. just a servicer)
2) Bank/ fund
Is this over-collateralisation enough? It depends through which lens you look at Tether:
1) Money transmitter (i.e. just a servicer)
2) Bank/ fund
2/🧵What are *MONEY TRANSMITTERS*?
Money transmitters should be mere service providers, they:
- Take your cash, and keep it in quasi-cash assets
- Give you back receipt token/ representation of your cash
- Commit to give you back cash 1-for-1
@circle is issuing $USDC like this
Money transmitters should be mere service providers, they:
- Take your cash, and keep it in quasi-cash assets
- Give you back receipt token/ representation of your cash
- Commit to give you back cash 1-for-1
@circle is issuing $USDC like this
🧵1/Ω
$COIN Q1 unaudited earnings takeaways:
➤ thank god for jerome powell
➤ retail customers getting fleeced
➤ shitcoins are king
$COIN Q1 unaudited earnings takeaways:
➤ thank god for jerome powell
➤ retail customers getting fleeced
➤ shitcoins are king
🧵2/Ω
I'll say it again: shitcoins are king.
I'll say it again: shitcoins are king.
🧵3/Ω
$COIN is saying assets on platform are up 62% because more people moved their crypto onto Coinbase but... isn't the price of BTC and ETH also up like 70%?
$COIN is saying assets on platform are up 62% because more people moved their crypto onto Coinbase but... isn't the price of BTC and ETH also up like 70%?
Fed's review into #SVB's failure is out. Key takeaways (thread):
1. SVB's board of directors and management failed to manage their risks;
2. Federal Reserve Supervisors did not fully appreciate the extent of the vulnerabilities as SVIB grew in size and complexity;
(continued)
1. SVB's board of directors and management failed to manage their risks;
2. Federal Reserve Supervisors did not fully appreciate the extent of the vulnerabilities as SVIB grew in size and complexity;
(continued)
3. When supervisors did identify vulnerabilities, they didn't take sufficient steps to ensure that #SVB fixed those problems quickly enough;
(continued)
(continued)
4. Fed's tailoring approach in response to the Economic Growth, Regulatory Relief & Consumer Protection Act and shift in stance of supervisory policy impeded effective supervision by reducing standards, increasing complexity, and promoting a less assertive supervisory approach.
The new memo by Howard Marks, unsurprisingly on #SVB debacle and broader banking issues. Some points which caught my eye 📖👇
1 | “My sense is that the significance of the failure of SVB is less that it portends additional bank failures and more that it may amplify preexisting wariness among investors and lenders, leading to further credit tightening and additional pain across a range of industries and… twitter.com/i/web/status/1…
2 | “I think the similarities between 2008 and 2023 are limited to the mere fact that, in both instances, problems existed at a few financial institutions. I find the common elements mostly superficial. What follows are the differences.”
For apologists, #SVB's #bailout was mere prudence: innocent bystanders stood in harm's way - rank-and-file startup employees, elite private school scholarship kids -so regulators improvised measures to make everyone whole without costing the public a dime. What's not to like?
1/
1/
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/04/15/soc…
2/
pluralistic.net/2023/04/15/soc…
2/
But that account doesn't hold up to even the most cursory scrutiny. Everything about it is untrue. Take the idea that this wasn't a "bailout" because it was the depositors who got rescued, not the shareholders.
3/
3/
US banks witness $126B withdrawal by March 22, with the top 25 shedding $90B in current financial unrest! 🚨
A thread 🧵:
#banks #svb #silvergate #crisis
A thread 🧵:
#banks #svb #silvergate #crisis
(1/6) Post Silicon Valley Bank & Signature seizures, smaller banks rebound by reclaiming $6B (seasonally adjusted) 💪
(2/6) Total industry deposits at lowest since July 2021, now at $17.3T 😲
🧐 @FDICGov's press release makes it sound like First Citizens Bank took all the loans that #SiliconValleyBank had on its books.
But... it did not.
$90 billion in toxic loans were left behind.
Cost to taxpayers currently estimated at $20bn but it will rise.
But... it did not.
$90 billion in toxic loans were left behind.
Cost to taxpayers currently estimated at $20bn but it will rise.
@FDICgov 🧵 Much of what is being written about #SVB is just as wrong as what's being printed right now about Citizens Bank "buying Silicon Valley Bank".
To be clear: $SIVB had $90 billion in loans so toxic no one would buy them.
#fundbanking / #venturedebt
cryptadamus.substack.com/p/how-everyone…
To be clear: $SIVB had $90 billion in loans so toxic no one would buy them.
#fundbanking / #venturedebt
cryptadamus.substack.com/p/how-everyone…
DEUTSCHE BANK
'The Spectator' warnt:
"Der einzig rationale Schritt ist, ihr Geld herauszuholen"
Grund zur Panik?
Ich sage (noch) NEIN
Wie ihr mitbekommen habt, sind die Credit Default Swaps (Kreditausfallversicherungen) für die #DeutscheBank sprunghaft angestiegen
🧵👇
'The Spectator' warnt:
"Der einzig rationale Schritt ist, ihr Geld herauszuholen"
Grund zur Panik?
Ich sage (noch) NEIN
Wie ihr mitbekommen habt, sind die Credit Default Swaps (Kreditausfallversicherungen) für die #DeutscheBank sprunghaft angestiegen
🧵👇
2/
So bezahlt man bei Abschluss für eine Summe von 10 Mio € jetzt 712k € jährlich
Eine Verdopplung innerhalb eines Tages und zeitgleich höchster Stand seit Bestehen
So bezahlt man bei Abschluss für eine Summe von 10 Mio € jetzt 712k € jährlich
Eine Verdopplung innerhalb eines Tages und zeitgleich höchster Stand seit Bestehen
3/
Gründe könnten u.a. in der Bewertung der CRE zu finden sein
CRE = Commercial Real Estate
Die #DeutscheBank ist stark in den USA vertreten
Gründe könnten u.a. in der Bewertung der CRE zu finden sein
CRE = Commercial Real Estate
Die #DeutscheBank ist stark in den USA vertreten
For many #ConstitutionalLaw scholars, last years' #Dobbs decision on #AbortionRights at the #SupremeCourt came as a dismaying shock, because it showed conclusively that #conlaw wasn't a realm of ideologically consistent intellectual foment, but rather, a matter of *politics*. 1/
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/03/25/con… 2/
pluralistic.net/2023/03/25/con… 2/
Writing for @CreditSlips, the #FinanceLaw scholar #AdamLevitin admits to feeling a bit of schadenfreude in that moment. The "blue collar" law scholars in "grubby" banking and money fields have always treated the conlaw set as "slightly clueless toffs":
creditslips.org/creditslips/20… 3/
creditslips.org/creditslips/20… 3/
🚨 Banks are borrowing from the Fed at historic levels approaching the 2008 financial crisis. 🚨 Here's a thread on what's happening 🧵:
In the past week, banks borrowed $110.3 billion from the primary lending window, highlighting how they have been bracing for potential runs on deposits in the aftermath of #SVB and #SignatureBank collapses.
As a result, the Fed's total assets have expanded to $8.78 trillion (more than double the $4.1 trillion reported in Feb 2020), signifying a reversal of its long effort to reduce the size of its balance sheet.
2008 PTSD VS THE GHOSTS OF THE 1970S. @darioperkins writes: While #SVB and its peers were uniquely exposed to COVID bubbles, this latest calamity has highlighted a broader problem in global banking – duration risk. At the start of the year, #centralbanks...
wanted to keep monetary policy “tighter for longer”, with the aim of bringing inflation down in a controlled and gradual manner. Right now, they seem to be losing control of that process. As tensions build, banks – particularly the smaller ones – will restrict credit in a way...
that could have a devasting impact on #SMEs, with powerful knock-on effects to aggregate demand. This will help the authorities to defeat inflation, but in a way that is uncontrolled and intractable, risking unnecessary hardship. Central banks are in a difficult position...
In der vergangenen Woche wurde immer wieder beteuert, das #Finanzsystem sei stabil, kein Grund, etwas zu ändern. Wir sehen die Lage nicht ganz so rosig. Also: 5 Gründe, warum das Finanzsystem nicht stabil ist! finanzwende.de/themen/banken-… \1
1. Viele #Banken sind immer noch “too big too fail”. Dabei hat die Finanzkrise 2008 gezeigt, wie verheerend es ist, wenn Banken so groß sind, dass im Falle einer Pleite das gesamte #Wirtschaftssystem schwankt. \2
2. Rhetorisch gerne verschleiert: Bei der UBS-CS-Übernahme haften Steuerzahlende für potenzielle Verluste von CS-Geschäften. Damit wird ein zentrales Versprechen von 2008 gebrochen: Mehr Finanzstabilität, um so keine #Steuergelder mehr für #Bankenrettungen zu benötigen. \3
As fears of a new global financial crisis spread, major banks like #SVB, Signature, and First Republic are under fire.
Meanwhile, #Bitcoin's price soars. Could Bitcoin be the answer to the impending banking crisis? 🌎📉
Let's dive in! 🧵👇
Meanwhile, #Bitcoin's price soars. Could Bitcoin be the answer to the impending banking crisis? 🌎📉
Let's dive in! 🧵👇
1/ The 2008 financial crisis left economies shattered and lives upended. Governments bailed out banks, leading to currency devaluation and a double tax on citizens.
Now, with troubling similarities emerging, could Bitcoin provide the financial security we need?
Now, with troubling similarities emerging, could Bitcoin provide the financial security we need?
2/ #Bitcoin was born out of the ashes of the 2008 crisis, designed as a decentralized alternative to traditional banking systems. With capped supply and decentralized infrastructure, it offers protection against manipulation by central banks or governments.
Aftermath of #SVB on Chinese outflow and Singapore inflow
1/ My private bankers in SG said they have seen massive Chinese wealth outflow from US after SVB crisis into Singapore
SVB is not just a Sandhill VC bank but also bank to offshore GPs and Chinese tech firm under VIE
1/ My private bankers in SG said they have seen massive Chinese wealth outflow from US after SVB crisis into Singapore
SVB is not just a Sandhill VC bank but also bank to offshore GPs and Chinese tech firm under VIE
2/ just anecdotally one of my Chinese tech investment (a series B company) had $10m in SVB
It’s a bank to global tech money and HNW tech persons
Most Chinese HNW post 2000 (age between 35-60) are made under tech, who used to considered US bank as ironclad not anymore
It’s a bank to global tech money and HNW tech persons
Most Chinese HNW post 2000 (age between 35-60) are made under tech, who used to considered US bank as ironclad not anymore
3/Chinese wealthy can’t trust both Chinese and American financial systems, Singapore is making the real killing in between (western common laws and market structure+ eastern doctrines) and has become 1st choice for capital out flow
The viral meme 👇🏻 is quite a explanatory
The viral meme 👇🏻 is quite a explanatory
Starting 2-weeks ago #SVB, #CreditSuisse & a few other smaller US banks failed. Whilst this is yet to become a #FinancialCrisis on the scale of ’08, it is also not certain that such a crisis hasn’t already begun. Join us for a thread of the best analysis so far!
First up, let’s acknowledge last year's release of @stefeich's – The Currency of Politics, and this interview in @thenation prior to the SVB collapse. His work provides important background understanding on the nature of money, banking and monetary policy.
thenation.com/article/econom…
thenation.com/article/econom…
There are no #libertarians in a bank run. No sooner had VCs whipped each other into a terrified Twitter frenzy at the collapse of #SVB - a collapse caused by that frenzy - than the #AynRand-poisoned elites started begging for Uncle Sucker for handouts:
1/
1/
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/03/23/sma… 2/
pluralistic.net/2023/03/23/sma… 2/
Now, on the one hand, it's easy to dismiss these guys as very, very, very stupid. After all, they played a game of #PrisonersDilemma in which they were allowed to talk to each other as much as they wanted - and they still sold each other out:
newsletter.mollywhite.net/p/the-venture-… 3/
newsletter.mollywhite.net/p/the-venture-… 3/
Tweet IMPORTANT :
La FAILLITE du dollar et de l'euro en quelques étapes simples pour que même Jean-Kevin puisse comprendre ce qui va lui tomber dessus.
(et la disparition de toute sa thune ... et peut-être un #bitcoin a 1m$ plus tôt que prévu)
Branche ton cerveau et lis :
La FAILLITE du dollar et de l'euro en quelques étapes simples pour que même Jean-Kevin puisse comprendre ce qui va lui tomber dessus.
(et la disparition de toute sa thune ... et peut-être un #bitcoin a 1m$ plus tôt que prévu)
Branche ton cerveau et lis :
1/ L'économie US repose sur un casino bancaire.
Ils ne produisent plus rien.
Les industries ont été délocalisées.
Que de la dette et de l'argent magique.
(+ tout le monde drogué ou entêté dans des combats contre des ennemis imaginaires)
L'Europe étant pire.
Ils ne produisent plus rien.
Les industries ont été délocalisées.
Que de la dette et de l'argent magique.
(+ tout le monde drogué ou entêté dans des combats contre des ennemis imaginaires)
L'Europe étant pire.
2/ Les saoudiens, les chinois et les russes s'éloignent du dollar.
Les russes, c'est évident.
Les chinois poussent le Yuan à travers le monde.
Les saoudiens sont okay pour vendre leur pétrole en autre chose que le dollar US.
Les russes, c'est évident.
Les chinois poussent le Yuan à travers le monde.
Les saoudiens sont okay pour vendre leur pétrole en autre chose que le dollar US.
*Red Team Blues* is my next novel, a #PostCyberpunk anti-finance finance #thriller; it's a major title for my publishers @torbooks and @HoZ_Books, and it's swept the trade press with starred reviews all 'round. Despite all that, #Audible will not sell the #audiobook. 1/
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/03/21/ant… 2/
pluralistic.net/2023/03/21/ant… 2/
In fact, Audible won't sell *any* of my audiobooks. Instead, I have to independently produce them and sell them through @Kickstarter:
kickstarter.com/projects/docto… 3/
kickstarter.com/projects/docto… 3/
As tech reaches terminal #enshittification, so hollowed that they're barely able to keep end-users or business customers locked in, capital's running the final #rugpull, where all value is transfered from those who make things for a living to those who own things for a living. 1/
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
pluralistic.net/2023/03/21/tec… 2/
pluralistic.net/2023/03/21/tec… 2/
"#ActivistInvestors" have triggered massive waves of tech layoffs, firing so many #TechWorkers so quickly that it's hard to even come up with an accurate count. The total is somewhere around *280,000* workers:
layoffs.fyi 3/
layoffs.fyi 3/
Two striking resemblances btw #SVB & former @CreditSuisse.
Both banks did not pay attention to the top 8–20 risks, which every board must.
Either these banks kept their risk desks understaffed or didn't hire key managerial position holders at all.
Why?
Need introspection now.
Both banks did not pay attention to the top 8–20 risks, which every board must.
Either these banks kept their risk desks understaffed or didn't hire key managerial position holders at all.
Why?
Need introspection now.
@CreditSuisse It was reported on this forum that #SVB did not have a CRO for some 8 months during the VC Market spiralling.
Also, I read just now that former @CreditSuisse was sacking key MDs in their across their risk desks.
This trend continued since the #Archegos fiasco surfaced after 2019
Also, I read just now that former @CreditSuisse was sacking key MDs in their across their risk desks.
This trend continued since the #Archegos fiasco surfaced after 2019
CRO Chief Risk Officer or Head of Risk Management is a key managerial decision-making position and C Suite Level role which every financial institution can afford to keep empty these days.
The Front, Middle, and Back Office roles form key lines of defence against top risks.
The Front, Middle, and Back Office roles form key lines of defence against top risks.
Tweet mañanero y Cuenta atrás.
DESCONFIANZA
No metas tus perras en la fondue de queso
DESCONFIANZA
No metas tus perras en la fondue de queso
Nos espera una semana interesantísima. Un cierto respiro para los bancos y relacionados, tiempo que ganan para encontrar una solución al dilema. El miércoles, el papelón de Powell.
Cronología:
El fin de semana ha visto a los directivos y muchos empleados en las oficinas, incluso a horas intempestivas. No tan solo en los bancos bajo fuego directo (Credit Suisse, #FRB, Deutsche Bank) reconocido oficialmente.
El fin de semana ha visto a los directivos y muchos empleados en las oficinas, incluso a horas intempestivas. No tan solo en los bancos bajo fuego directo (Credit Suisse, #FRB, Deutsche Bank) reconocido oficialmente.
