Next up, we got to talk about how Bitcoin may have been the contributor to the bank runs right? Yes, literally, Crypto may have killed the banks. What an incredible irony that is, Because after all, that is maybe not ironic. That's kind of been the point of Crypto is: get away from centralized Finance get away from funny money and Fiat but I Don't think anybody actually thought that Crypto would end up causing Bank runs in America But that's exactly what's happening. And if you need to protect yourself at home with the Needler Metcavin.com Needler or the link down below.

And if you're on the receiving end of this, get life insurance by going to Metcaven.com Life. You can get it as little in as little as five minutes and Apple or Android pay for. So what do we got? Well, first of all, we know that the Justice Department is now investigating some stock sales at Silicon Valley Bank by Executives. But what's more actually interesting is what happened with Signature Bank and how that relates to Silvergate.

and Silicon Valley Bank get this So Silica or Silvergate which was a bank in New York was frequently considered quote a place of ambition not Prestige What's really interesting is how they went from basically a bank doing deals for people like Donald Trump cab owners and quote-unquote slumlords they were saying to Crypto. Now they've been always trying to figure out how could they grow, what's the best way for them to grow. In fact, one of the big ways they tried growing at Signature Bank was doing loans for taxi companies Unfortunately they made those loans right before the pandemic. They also made a lot of loans for Donnie T Donald Trump and the Kushners were frequently questioned about their relations with Signature Bank Signature Bank ended up dropping them as clients, closing about 5.3 million dollars worth of deposit accounts.

Uh, that the Trump and Kushner ended up having over at Signature Bank And this bank has had a lot of drama and a lot of backlash from both sides. even the Democrat Leticia James who's the New York Public Advocate or then Public Advocates and she's got another job? Uh, still over there obviously. But anyway, she ended up calling uh, this Bank the city's worst landlord or actually they put the bank on the city's worst landlord. And the reason for that was not that Signature Bank actually owns properties.

but they do so many loans to office and apartment building landlords that they basically called this Bank such a bad bank because they enable bad landlords to own buildings that don't provide for basic living conditions. That doesn't sound good. So Signature Banks got some pretty interesting history when it comes to trumps the kushner's taxi companies right before the pandemic. uh, landlords for office and apartment buildings.

But this is where things took a shift in 2015. The Winklevas Brothers Gemini Gemini Exchange got one of New York's first licenses to run a cryptocurrency exchange brokerage. That means you go to Gemini you're like, oh yeah, I will give you a thousand dollars of cash. Please give me your Gemini token.

so I could go buy Bitcoin or crypto or whatever, right? Guess where that cash went? Signature! So Signature Bank ended up taking crypto clients not just Gemini, but they ended up taking on Coinbase and Circle as well. At one point, Coinbase has had about 240 million dollars at Signature Bank and Paxos, which also provides a stable coin a USD base style stable coin. Paxos ended up having about 250 million dollars in uh, deposits at Signature. So basically Signature was basically the way, uh, that people would deposit cash and then get crypto the exchanges whether it's Paxos, Coinbase, Circle, Gemini, or sort of what you see.

But when you put your money in the cash went to go sit at Signature in many cases, so there's a chance if you've used one of those platforms, there's a chance your cold Hard Cash was sitting at Signature Bank And this bank brought in tens of billions of deposits. Tens of billions. That's a lot of money. The they were able to bring in tens of billions of dollars during the crypto boom.

They made lots of money during the crypto boom. A whole heck of a lot of money. And they made so much money that unfortunately, when things started flip-flopping in the crypto Market in 2022, they started seeing exactly the opposite happen. But it wasn't just Signature, take a look at quarter on quarter changes in total deposits at these Banks Look at and then look at some of these names right here.

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We are super excited to have you in those courses! I Want to be clear: none of the information is personalized Financial advice because I don't specifically know your situation but I think you're going to get some pretty incredible information that'll help guide you on the way to wealth you said St Patty's Day link down below quarter on quarter total changes in deposits q1 you add Silvergate also a crypto related uh, on-ramp Bank Lost about 6.3 percent of deposits in Q1, Signature and Svb Silicon Valley Bank were still gaining by the second quarter. almost all of them were losing deposits with the exception of silver date slightly flat there. And by the fourth quarter, the deposit withdrawals here were massive deposit changes. massively negative, and a lot of this many say had to do with the crypto.

Market Slowing down as the crypto Market slowed down. Less people invested into crypto as less people invested in the crypto, people also had less and crypto prices were falling. People also had less money to invest into venture capital or other businesses. They're losing money in the stock market long and short of it.

What ended up happening? Well, while uh, Silver Gate ended up having billions of dollars of deposits, especially for example, 1.5 billion dollars of deposits in the first two months alone of 2022, they plummeted to all of a sudden, seeing massive withdrawals. In fact, at one point they were collecting nearly as much as three times as many deposits from crypto as they were from regular depositors. That actually ended up leading some entrepreneurs to argue they didn't want to do business with a bank that has basically become a crypto bank because again, the bank at one point was taking in three dollars of crypto deposits for every one dollar of actually what made the bank notable. working for entrepreneurs and uh, landlords for example.

But all of these industries obviously got hit. We know, taxis got hit, We know, Uh, thanks to Uber Lyft We know crypto got hit, We know, Uh, apartment buildings and landlords and Commercial landlords have all got hit mortgage-backed Securities are getting crushed and now all of a sudden hundreds of millions of dollars started getting pulled out of the bank as it seemed like the bank was potentially running out of money last week and that led them to fall into F Cic receivership on Sunday. Now part of the reason Signature Bank was seized was because of what they called a crisis of confidence. That's what regulator said.

A lot of people in the industry say no. the bank was actually seized because it was a crypto bank. and whatever they can do to punish banks that were related to crypto is what they wanted to do. And it's kind of interesting because Silvergate was a crypto.

Bank Signature was a crypto bank. and even though Silicon Valley Bank wasn't technically a Crypto Bank it did provide loans to startups in the crypto space. And guess what? All three of them failed. We now have the two biggest bank failures that have happened since 2008's WAMU failure in just the last week.

These are pretty big banks that failed and they happened in just the last week and they all three of these two of them being some of the larger two, but all three of them happen to be involved in Crypto. Now to show you the scope of kind of where these failures are on the time frame, it's worth looking at this uh, this bubble chart over here and really, it shows you. Here's Washington Mutual's bank Failure bubble chart shows you kind of how big the bubble is, right? and then you could kind of see how big the bubbles are of Silicon Valley Bank and Signature Bank based on how many assets they have under management. So it's a pretty big deal.

but it's very interesting that crypto almost somewhat feels like the virus that is killing its host from within. Think about that for a moment. Crypto goes in and gets money from Banks or deposits money with banks. Crypto Market Crypto In the first.

The whole point of crypto is to get away from Banks and Fiat money, right? And the more crypto deposits there were, the more at risk of collapse. These Banks actually became. Some articles and authors like over on Bloomberg are now suggesting that quote: the Crypto Bros are getting pushed to the brink of banklessness. But it kind of makes you wonder: is it almost crypto becoming more valuable and more brilliant by being associated with banks killing their hosts, the banks sending people into more of a fear tail spin around Banks and potentially into Crypto.

It's kind of brilliant now. whether it's orchestrated or not, look at what Bitcoin is doing on Weeble Uh, by the way, if you want to sign up for Weeble, they're doing a 12 free stock offer right now. just go to Metcaven.com free or click the link down below that's M-e-tkevin.com Free. But anyway, take a look at this.

Since the banking crisis was resolved with an unlimited bailout, Crypto has exploded uh, over about 25 percent here here from about 1950 to 24 9 or at least Bitcoin over here. Uh, Bitcoin Huge recipient of of this recovery here. Uh, you've got Ethereum still sitting around nearly 1700. Also a nice bounce here.

Of course a lot of people bag on crypto and say, hey, you know what crypto is just another risk asset But I Do think it's really interesting that the three banks that were really associated with crypto all just happen to be deleted or receiverships should I say uh While at the same time reiterating the whole purpose of Bitcoin and crypto, it's kind of brilliant Now, of course there were other things that led to the potential failure of these: Banks Remember, the government is saying well, signature failed because they were supposed to give us a reliable and consistent data. We didn't end up getting that from Executives on Sunday morning, they lost 20 percent of their deposits just Friday alone. It's worth noting that Bank of America is bragging about how 15 billion dollars have has gone to Bank of America how excited they are about how much money has gone to Bank of America. But it kind of makes you wonder how much of a trojan horse crypto has become to actually eating the banking system alive from within.

Kind of incredible. So anyway, that's that's very interesting about. Uh yes, as Alvaro here says, that's a very interesting theory about crypto I Hate to say it, but it's it's very interesting to me. this is the smartest meet Kevin take I have heard in like five years I don't know if that's a compliment uh and then of course somebody else replies here.

love me some gold All right, Very well. So there you have a crypto Update: Okay, uh uh. all right, what else do we want? Oh boy, this is fun. All right.

So uh. next, how about we talk about the Russian jet? Yeah, Oh God.