A legal, regulatory confiscation of bank assets wouldn't touch customer deposits, so I don't think so.
I think this is the bank getting caught with their pants down, treating deposits as a slush fund as part of their normal operations. Usually they'd get away with it, with inflated claims of asset value and plenty of time to bring it back up to market. The audit might be driven by white hats, but it doesn't look like a forfeiture to me.
A legal, regulatory confiscation of bank assets wouldn't touch customer deposits, so I don't think so.
I think this is the bank getting caught with their pants down, treating deposits as a slush fund as part of their normal operations. Usually they'd get away with it, with inflated claims of asset value and plenty of time to bring it back up to market. The audit might be driven by white hats, but it doesn't look like a forfeiture to me.
Tinfoil hat time!
The hedge funds for GME were using SVB cash and apes won!
Ahh... We'll need some ape brains to weigh in... Is it mark-to-margin time again? I like your take!