
I suffered an embarrassing moment last week. A client contacted me last Friday afternoon to ask my opinion about the Silicon Valley Bank (“SVB”) crisis that had hit the headlines that day. I was finishing up another busy week and mistook the SVB bank run news with the Silvergate bank failure earlier in the week. I fired back a snarky quip that the collapse of a single “cryptocurrency” lending bank (Silvergate) was a pimple on an elephant and was an isolated event. Oops...
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