And big ups to @crypto1nfern0 who helped me gather all the information for the original FUD piece in December and much FUD since then. Couldn't have done it w/out you.
Big ups to @vidar_research who I forgot in the excitement. Vidar brought some good old fashioned balance sheet analysis to bear on the $SBNY scam. Incredible work that was immensely helpful bc it was from a different angle. vidarresearch.substack.com/p/sbny-q422-reβ¦
Hugs for those who may not have written a formal article but were instrumental in slaying the dread beast $SBNY. Follow π
Many names are used for the loosely affiliated group of like minded anti-scammers listed above recruited from both sides of #TheCoinerianJihad but my preferred anglicization is #Alladafuddah.
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folks who still believe the noise about $SIVB just being duration mismatch: have you considered this?
get depositor money β
lend VC cash β
VC funds co. β
VC requires co. keep deposits at $SIVB β
voila! yr loan is now a deposit in yr bank
...which you can lend out again
look at the $SIVB balance sheet anon. here I'll make it easy for you:
𧡠When $60 billion in Ponzi scheme loans to tech bros & crypto crooks go bad (and we'll know how bad once the auction prices come out) who foots the bill anon?
Every American with a bank account will. Maybe not in taxes, but in bank charges. #VentureSocialism
The joke is even more of a $RIOT when you realize that #RiotBlockchain **already** had to amend their 2021 numbers with the SEC because they "forgot" about all the money they spent acquiring a couple of 9 figure businesses. see where it says "amendment" on SEC page: