ST Alpha - "Oof. They just issued their annual report *2 weeks ago* with a clean audit opinion. " (Reading a Post)

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Posts: 151

In response to "heh, there's some speculation that one or more Stablecoins have their reserves tied up in SVB. -- nm" by Beryllium

Oof. They just issued their annual report 2 weeks ago with a clean audit opinion.

Posted by spamlet Mar 10 '23, 13:29

Some partner just booked a flight to a Caribbean destination.

Responses:

I'll be interested in knowing what caused the failure (will take some time for all the facts to gather) -- (edited) - ty97 Mar 10, 13:31 5
- Bloomberg article said they had half their money in low interest treasury bonds, as money was pulled out they had to sell at loss to cover -- nm - zeitgeist Mar 10, 13:44 1
  - I can't remember if it was 91 billion or 91% ... -- nm - Beryllium Mar 10, 13:57
- Peter Thiel better hope he had an ironclad reason for telling everyone to take their money out! -- nm - hollywood big shot Mar 10, 13:39
- Doesn’t matter. That partner gonna go through the wringer. - spamlet Mar 10, 13:34 1
  - oh no doubt. My post was more tangential than anything. - ty97 Mar 10, 13:35
SVB issued a clean audit? or the coins? -- nm - JD Mar 10, 13:30 1
- SVB -- nm - spamlet Mar 10, 13:33
It probably wouldn't have gone this way if they hadn't fumbled their messaging earlier this week -- nm - Beryllium Mar 10, 13:30

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