Bitcoin: What you need to know
Present Day Current Events Analysis
With the US Banking crisis, much debate surrounds how reliable leaving your money at a bank really is. International users from around the world from countries like the UK lost money when the Silicon Valley Bank (SVB) collapsed (1).. This collapse makes this the largest bank to fail in the USA since the 2008 financial crisis. Exacerbating the issue more, top executives sold stocks totalling millions of dollars in the late Feb to just before the collapse (1). While the users and public are accruing losses; the top executives sell to realize gains.
Then soon after these gains, the US Federal government comes in to mitigate the situation by promising to “bail out” SVB customers but only to a certain extent. Some may say, while the bank wins; the customers are the ones accruing all the losses (2). This structure does seem a little broken.
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Looks life USA tax payers will get to flip the bill for the bank collapses; fostering a structure where we all lose when one bank…
