Only depositors who had more than 500k deposited. For SVB, a high number for sur... | Hacker News

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jboy55 on April 12, 2023 | parent | context | favorite | on: Mass layoffs and absentee bosses create a morale c...

Only depositors who had more than 500k deposited. For SVB, a high number for sure, but its not a counterpoint to someone posting how putting trust in crypto bankrupted a large number of people in developing countries when they mistakenly thought they could trust crypto more than a bank.

nightski on April 12, 2023 [–]

FDIC insurance is 250k, not 500k. It's not Apples to Apples, but it demonstrates that the banking system is not rock solid either.

Not only that, if you really want to look at exploitation of the poor look no further than our large banks in America.

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