SVB collapse, maybe there were crypto startups.

[cafter]

you may also heared this news about SVB(Silicon valley bank) https://www.wionews.com/business-economy/explained-silicon-valley-bank-crisis-did-us-central-bank-miss-headwinds-572334

mostly SVB deposits are of startups and businesses, so, some of them may be crypto startups,

Silicon Valley Bank Contagion: Crypto Companies Affected Include BlockFi, Circle, Avalanche, Ripple

https://decrypt.co/123199/silicon-valley-bank-crypto-companies-contagion

is it affect the crypto markets ? , but crypto market is rallying somewhat like 25% up in 2-3 days.

[Beparanf]

AFAIK, SVB received a bailout from the the government which rescue all the customers money. This save everyone that has money on it which makes crypto market rally in an insane speed due to this hype. Although it’s too early to celebrate since this will have an implications if other banks will do the same which government will shoulder all.

It’s not a direct bailout but surely the government rescue SVB funds.

https://www.nytimes.com/2023/03/13/business/economy/svb-bailout-questions.html

[stompix]

mostly SVB deposits are of startups and businesses, so, some of them may be crypto startups,

Silicon Valley Bank Contagion: Crypto Companies Affected Include BlockFi, Circle, Avalanche, Ripple

https://decrypt.co/123199/silicon-valley-bank-crypto-companies-contagion

Let's pause a moment and think of the irony that crypto start-ups are holding their funds in a bank in $.
Unfortunately, it shows the not so good side of things, that we're still deeply anchored in the system, no matter what "revolutionizing" projects claim, it's still a fiat deal behind all of them.

[cafter]

SVB is soon going to acquired by first citizens bank through auction, Is it good for crypto, we will see small pump ?  

https://www.msn.com/en-us/money/companies/first-citizens-reportedly-nearing-deal-to-acquire-silicon-valley-bank/ar-AA196uVv?OCID=ansmsnnews11

[DapanasFruit]

SVB is soon going to acquired by first citizens bank through auction, Is it good for crypto, we will see small pump ?  

https://www.msn.com/en-us/money/companies/first-citizens-reportedly-nearing-deal-to-acquire-silicon-valley-bank/ar-AA196uVv?OCID=ansmsnnews11

I read somewhere that actually crypto is on a consolidation phase right now, with Bitcoin to stay at around $25K for a while. Anyway, we don't know for sure how many crypto-based platforms are affected by the developments in SVD. Still, this eventual acquisition can be working good for all parties as things can get normal again and assets owned by the depositors can be made whole. As of now, the expected contagion just like what happened in 2008 was averted though there remains the question of the main problems and weaknesses at hand.

[stompix]

SVB is soon going to acquired by first citizens bank through auction, Is it good for crypto, we will see small pump ?  
https://www.msn.com/en-us/money/companies/first-citizens-reportedly-nearing-deal-to-acquire-silicon-valley-bank/ar-AA196uVv?OCID=ansmsnnews11

Not so much.
Silvergate collapse was bad for bitcoin since it affected gateways, SVB going down was a different thing, it turned to be positive since it showed people that banks are not safe at all (for the thousand time) so the bank going back up and leaving no clients in distress is not so much positive, it would have helped more if it would have simply bankrupt.
Plus, BTC price has little to do with most of those start-ups, it's the shitcoins behind them that got trashed.

Still, this eventual acquisition can be working good for all parties as things can get normal again and assets owned by the depositors can be made whole.

This thing, if happening, invalidates one main strong point of crypto, the reason for being your own bank, so while positive for the stocks and the customers themselves, I don't see it positive for the prices right now, any moron could claim that banks are perfectly safe, nothing happened so no need for cryptos at all which is not good at all.

[kryptqnick]

Now that some time has passed since the collapse of the Silicon Valley Bank, I think we can safely say that thankfully, Bitcoin has been nothing but stable and at a pretty high point since the news broke, so even if crypto businesses suffered because of the bankruptcy, the price of Bitcoin wasn't affected and the same is true for several top altcoins. The uncertainty can remain or even spread in the traditional markets (stocks), but the crypto market seems to be okay. Maybe Bitcoin will fall later, maybe it will grow more, but I don't think it will be attributable to the SVB situation, unless it triggers bigger economic events.

[Flexystar]

AFAIK, SVB received a bailout from the the government which rescue all the customers money. This save everyone that has money on it which makes crypto market rally in an insane speed due to this hype. Although it’s too early to celebrate since this will have an implications if other banks will do the same which government will shoulder all.

It’s not a direct bailout but surely the government rescue SVB funds.

https://www.nytimes.com/2023/03/13/business/economy/svb-bailout-questions.html

That's definitely surprising but in the long run, we need to think about how crypto projects are going to survive if they are going to be same-old fiat seekers. SVB case was something different, and it had crypto projects as well as many IT projects working outside the crypto space and in the real world. I think that had a large impact on the case and that could be one of the reasons for not ceasing all the operations of SVB. Imagine if this would have been a case like FTX then, SVB would have gotten the bailout like this.

mostly SVB deposits are of startups and businesses, so, some of them may be crypto startups,

Silicon Valley Bank Contagion: Crypto Companies Affected Include BlockFi, Circle, Avalanche, Ripple

https://decrypt.co/123199/silicon-valley-bank-crypto-companies-contagion

Let's pause a moment and think of the irony that crypto start-ups are holding their funds in a bank in $.
Unfortunately, it shows the not so good side of things, that we're still deeply anchored in the system, no matter what "revolutionizing" projects claim, it's still a fiat deal behind all of them.

And there is this thought process as well. Right on the point, considering how they act when it's a crypto project itself. The fiat and crypto relationship can break only if they consider crypto projects in terms of bitcoin value and not fiat. However, the world revolves around money or fiat as they know it for ages now. So it's a big question mark how to define the value of bitcoin or how to measure it? Unless and until we don't get that drift, we can never be successful in breaking that traditional chain.