An In-Depth Look Into the 2023 Banking Crisis — 3 of the Largest Bank Failures i

[sirty143]

An In-Depth Look Into the 2023 Banking Crisis — 3 of the Largest Bank Failures in US History

The U.S. economy experienced an interesting year in 2023, marked by unprecedented upheaval within the American banking sector due to the combined collapse of three major banks, the largest the nation has historically seen... See more for yourself here.

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[joniboini]

Some people might twist this narrative to say that crypto is the reason for those banking failures since all of them are related to crypto in one way or another, particularly the FTX case. I believe these failures show that the bank system is quite prone to failure if they don't do any due diligence, or take risks that are way out of their risk profile. It is a bit ironic, to be honest, just goes to show that the top management can also become greedy if they think they can get away with bail-outs and so on.

I hope people look at this and learn the lesson of never trusting any bank with all of our wealth. At the same time, learn how good risk management is necessary, especially in crypto trading. Let's see how many people got burned after 2024 because they failed to do that (hopefully none of us).

[Baofeng]

Some people might twist this narrative to say that crypto is the reason for those banking failures since all of them are related to crypto in one way or another, particularly the FTX case. I believe these failures show that the bank system is quite prone to failure if they don't do any due diligence, or take risks that are way out of their risk profile. It is a bit ironic, to be honest, just goes to show that the top management can also become greedy if they think they can get away with bail-outs and so on.

Yes, and I don't know, I think the author like has some narrative behind to say those banking failures are somewhat related to crypto or to FTX collapse. But in any case, it's not it boils down as to how SBF handled the company and it's subsidiaries that makes this domino effect to those banks. It has nothing to do with crypto, but the people behind to take advantage of everything and they thought that they can play God with all the money that people are putting in FTX for their daily trading and as I results it has cascaded to everything that FTX has a connection including the banks being mentioned in the article.