We are in July and nearly in August, making it almost 5 months since SVB and other banks collapsed. And yet still, articles are still coming out that blame the banking crisis on crypto

It still boggles the mind how much they pushed that narrative and also how much it seems to be pushed. Just this month, three articles were released just this month that are still trying to put the blame for the banking crisis on crypto.

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Quartz - Published July 12, 2023

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AEI - Published July 17th, 2023

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https://preview.redd.it/89k8v6qqtcdb1.png?927&format=png&auto=webp&s=0d961dddb1ca1aac234459837bea07bee5ce7205

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Outside of Silvergate, who are actually quite minuscule as banks go, the rest of the bank failures had little to do with crypto in anything at all. And ironically, Silvergate is the only bank that hasn't actually "collapsed" and is actually in a managed liquidation process. Again, Silvergate, the only other bank with real crypto ties, was shut down by regulators as opposed to voluntarily closing and there was no way out and no other options.

The first article is just flat out wrong and deceptive and needs no further attention. The second article by the AEI was pretty questionable. SVB stock price did climb with the crypto market's growth but more than 80 percent of Signature's 88 Billion in deposits were from law firms, accounting firms, health care companies, manufacturers and real estate management companies. Only around 11 Billion was digital-assets related weeks before the collapse. In reality, why they collapsed was more due to the same issues as SVB of a large institutional customer deposit base who withdrew large amounts of funds all at once due to general fear around banks especially with Federal Reserve rate hikes.

The New York State Department of Financial Services, a financial regulator, even directly debunked the deception by directly stating that at least for Signature's collapse, it 'nothing to do with crypto'. Back in March and April was the absolute worst for these articles and it's pathetic they're still being released.