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On Mar. 12, United States Treasury Secretary Janet Yellen assured Silicon Valley Bank (SVB) depositors that policies were being discussed to recover lost funds. Bail Out or Not Speaking during CBS’s Face the Nation, Yellen reassured SVB depositors and dismissed the idea of a bailout, stating that “the reforms that have been put in place means
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Yellen sought to ease concerns that the bank’s collapse could lead to a domino effect. Source
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Yes, SVB was tech-forward and, while not necessarily “crypto-friendly,” it did bank crypto hedge funds and VCs like Blockchain Capital, Castle Island Ventures, Dragonfly and Pantera (oh, and even CoinDesk). SVB didn’t fail because of any of these businesses. Even though it might make sense to be critical of depositor
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