Bank Runs and Bitcoin

How the recent troubles in the banking industry impact bitcoin and what to watch for next.

Bank Runs and Bitcoin

In case you missed it…

The second biggest bank collapse in US history happened last week. Silicon Valley Bank experienced a $42 billion bank run as customers raced to withdraw funds from what was a renowned, 40-year-old, financial institution in the tech, startup, and commercial space.

Meanwhile, this week…

Smaller, regional US banks are on the defensive and the word “contagion” is no longer strictly associated with cryptocurrency exchanges like FTX. The SVB collapse is having ripple effects throughout the US and overseas.

European banks are being put to the test. Credit Suisse, a global investment bank that dates back to the mid 1800s, has struggled in recent years and is one of the more prominent European banks on the brink of collapse.