Number one side thing that we've seen Going on but bigger than that in the Last 24 hours is the Silicon Valley Bank Um has crashed Um and there are rumors that they might Be in big financial trouble they were Trying to raise a whole lot of money That never happened successfully just to Put this into perspective Silicon Valley Bank is is the top 16 banks in the US Which is huge I mean it's not like if You look at silvergate which we're Actually going to talk about that's in The top 150 bucks okay and even that's Had a bit of an impact but but svb is a Is a massive bank and they were known For being very very crypto friendly so They really had a lot of a lot of Different Um Angel Venture technology backing that They would they would back those sort of Companies Um and this is really really the reason That we saw this big this big sort of Drop in the stock market Um as well as as well as crypto right so We've got hedge funds urging investors To withdraw money if they do have them With the bank and people are concerned That that SV svb is gonna is gonna crash Um and you'll see over here Right Um they were really looked at as being The um like with unicorn investors and
Technology firms they were looked at as The as the great bank for that Um and the problem here is in the last Year with the bear Market is that there Hasn't been that many deals Um the huge Silicon Valley deals that We're used to Um in this in this space and that's put A lot of pressure on them they also had 10-year yields there's been a run in the Bank uh people are scared they're trying To withdraw their money and so these Guys have gone off and they've sold a Bond portfolio worth 21 billion dollars Um and I'm not at a loss of two billion Dollars 1.8 billion just to get Liquidity here just to get liquidity They they wrote it down pretty much 10 So they were happy to write off 2 Billion just to get in emergency 21 Billion dollars What happens from here is still to be Seen Um but this is definitely a concern now On the other side of it and it is a Concern it's a big bank and this is very Very big news and on the other side of It we do know that your own power is Waiting for death and destruction to Happen before he has to Pivot and is This the beginning of a bit of a bank Collapse and will that cause a pivot Finally Um we don't know number that's number
One and number two but number three is They also had the written in and will They be bailed out you know will it be a Lehman Brother typing they're too big to Fail or will they be allowed to fail a Network that's what remains to be seen So order this with fzb is the last 24 Hours but that's really what has led to This massive massive drop that that We're seeing in the markets and stock as Well as crypto So you're okay not looking pretty out There