Before Silicon Valley Bank, $SIVB, went under, the CEO had
sold $3.57 million worth of stock in the previous two weeks.
After forcing SIVB lower with a 100% bearish warning and
closing out his account today, this trader profited over 2000% over the course
of three days.
Over 95% of the deposits at Silicon Valley Bank are FIDCs
(uninsured).
Silicon Valley banks are connected to over half of all
American businesses receiving venture capital funding.
After disclosing a $3.3 billion exposure to Silicon Valley
Bank, Circle's USDC plunged to an all-time low of $0.9364.
According to rumor, the CEO of the Silicon Valley Bank
anticipated their demise and just sold $3.57 million worth of stock.