Discover and read the best of Twitter Threads about #brockpierce

Most recents (2)

🧵1/Ω A few things about @crossriverbank, a tiny #a16z funded lender that originated more #PPP loans for "small businesses" than anyone besides Chase, BofA, and Wells Fargo, mostly for people who were not their customers.

Also @coinbase's preferred bank.
techcrunch.com/2022/03/30/cro… ImageImage
🧵2/Ω They paid @McKinsey a bunch of money to tell the world that "while most banks originated PPP loans to their own customers, Cross River leads in originations to new customers"
mckinsey.com/industries/fin…
🧵3/Ω Unlike other banks that blew up on "fund banking" recently (*cough* $SBNY $SIVB *cough*) @crossriverbank does their "fund banking" differently:

They package all the loans and sell them to weird "fintech" companies like @Upstart. @mikulaja Image
Read 40 tweets
Recognised a few faces from when #cz was hanging out with the 'old gang'. namely #matthewroszak
#noblemarkets and #blockstream were two of his investments. #bloq
peeps would recognise a few other connected domain names. noblex.io was one of the domains for #nobleinvestment bank.
Read 19 tweets

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