The second-largest bank in US history just collapsed. And this is really bad because this bank served many customers, crypto companies, and startups in Silicon Valley who had more than the $250,000 F D I C deposit limits. This is also why all of these bank stocks are down, some of them down. Double digits because people are worried that this banking contagion will spread through the sector. Here's the announcement from the F D I C itself that Silicone Valley Bank has closed and the many uninsured depositors will not get their funds back right away. The stablecoin U S D C did keep some reserves with this bank, and some people are theorizing that there could be a depeg. Not a huge one, but maybe down to 97 seconds. Here's the list of banks where U S D C keeps some of their reserves, and unfortunately you can see Silicone Valley Bank is on the list. With past bank failures, it took up to 14 years to recover the asset. With all this bad news, could this finally be the capitulation event? ✅ If you like this video please subscribe to the channel for future updates on “Best Credit Consultation, Hacks, And Tips” on Youtube! https://www.youtube.com/c/JustJWoodfin ✅ Find the links to everything featured in my videos as well as credit-building products, services, and resources: KreditMD.com/social 👉 Get your credit reports and FICO Scores: www.9ficos.com (Powered by MyScoreIQ) If you need help with your credit, text #HelpMe to 310.919.2002 so I can give you a FREE analysis of whether or not credit repair is the correct move for you and your situation! ============================= ✅ Other Videos You Might Be Interested In Watching: 👉 Can you see the problem with this?!🤦🏾♂️ #Shorts https://www.youtube.com/shorts/TKwddbTrACo 👉 NAVY FEDERAL LATE-NIGHT APPROVAL HACK! #Shorts https://www.youtube.com/shorts/eTdfk30WGFY 👉 Rules for Applying w/Navy FederalCredit Union 🏦 #Shorts https://www.youtube.com/shorts/7ijS94ted8A 👉 Every time you use your 💳debit card you lose! 👎🏾#Shorts https://www.youtube.com/shorts/mqhWW5_9jcE ============================= ✅ About J. Woodfin: I'm going to teach you the Kredit game! So if you're having trouble understanding credit...Don't Worry...As Usual...I Gotchu! C'mon! 😉 IYKYK Don’t forget to subscribe and click the notification bell 🔔 https://www.youtube.com/c/JustJWoodfin Feel free to contact me on: For a FREE credit consultation with J. Just text #HelpMe to 833.524.7800. Let's get you on my calendar so we can talk about your situation. ================================= Tags: Ignore! how to get out of debt, how to pay off debts, what is the national debt, how to pay off credit card debt, how much debt is the us in, what is a collateralized debt obligation, how to consolidate debt, how to pay off debt fast, how to get out of debt fast, how much debt is America in, how much is America in debt, how to get out of credit card debt, what is debt consolidation, what is a good debt-to-income ratio, Related Phrases: Disclaimer: I am not a financial advisor. Do not take anything on Youtube as financial advice. Always do your own research. Consult a professional investment advisor before making any investment decisions! My youtube channel is for educational purposes only! Copyright Disclaimer: Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is permitted by copyright statute that might otherwise be infringing. Non-profit, educational, or personal use tips the balance in favor of fair use © J.Woodfin
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