what's the deal with svb? genuine question, i am very out of the loop.

🔍 ensdata.net ✦ 🖼️ pugson.net/rfe ✦  🌐 metadata.vision ✦ 𝙽𝙾𝚆: design engineer @family ✦ 𝙿𝚁𝙴𝚅: @rainbow 🌈

Significant portion of SV capital stack is at SVB — startups, VCs, etc. 

They had a bank run. Today they were shut down by the government. TBD on what happens next. 

A lot of startups don’t have access to money for payroll.

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

Would you be concerned about Circle / USDC? SVB only held a small % of assets but we know how much FUD can pull things down

I like baking /goodbread and building apps on web3 protocols. DevRel @ ENS Labs. gregskril.com

3 billion out of 41 billion is stuck at SVB. https://twitter.com/circle/status/1634391505988206592?t=wfiQfMzusFJyus8CxysUEA&s=19