Wow!

All insured depositors will have full access to their insured deposits by Monday morning. 

The FDIC will pay uninsured depositors an advance dividend, and receivership certificate for the remaining amount of their uninsured funds. 

https://www.fdic.gov/news/press-releases/2023/pr23016.html

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That’s terrible. So anything beyond 250k is a crapshoot at this point?

is there an easy way to check for exposure? particularly for angellist. Haven't seen any comms from angellist

“As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors.”

oh man… how long could this process take?

Expect there to be funds buying those receivership certificates at a significant discount

For many depositors, that's like saying they'll have access to their socks on Monday.

Damn they must’ve been in a really bad spot. 

Thanks for this update

Buckle up for those margin calls. Maximums payout from FDIC is ¢ on the $, believe that $250K per account limit. 

VIX volatility will run the centralized banks out of business 💸