finance

FDIC just reported that 63 banks are on the brink of insolvent collapse 👀👀

🇧🇷🇺🇸-  Book: Making Things Think: https://holloway.com/mtt. Investor in Wander, Carry, Footprint, Merkle Manufactory (Farcaster), Dynamic, Paragraph.

Absolutely insane.

The house of cards is long overdue to topple over.

I wish we’d do a run on the banks and get it over with already.

The future is onchain, where the government can’t print money out of the sky to settle their exorbitant debt.

We’re all fools for living by this system.

Big Short or Margin Call movie party, I can't decide

My bank, Juno Finance, has frozen assets over two weeks ago, with no clear end in sight. Sounds like Synapse has collapsed and is under Federal authority now.

My bank, Juno Finance, has frozen assets over two weeks ago, with no clear end in sight. Sounds like Synapse has collapsed and is under Federal authority now. https://juno.finance/blog/latest-updates-on-banking-and-card-services

probably related to rate risk. often happens in these hiking/high rate regimes. as long as deposits are backed by Fed like First Repub or SVB, we should be good.

KRE - regional bank ETF doesn't show any underlying concerns yet, so probably gives time to banks/Fed to curtail risk