Understanding the Collapse of Silvergate and Silicon Valley Banks: Implications for Crypto and the Economy

hello everyone welcome to episode 57 So today we're going to be talking about the crash of two Banks uh Silver Gate

bank and Silicon Valley Bank so I made the thermal version in the weekend and there's been a couple of developments

which I'll be covering today and also uh thanks to everyone who's been watching from the Tamil version to the English

version for all the feedback all the positive feedback and how a lot of people have said that they've understood

the whole issue with the video that I've made in Tamil so in today's video in the English version we'll be talking about

the same content but also a couple of other developments and how it Compares how this crash compares to the 2008

financial crisis the impact of economy and impact of crypto in general so as usual disclaimer I'm not a financial

advisor or investment expert all of my videos are just to share my personal understanding and my personal

experiences I never ever send your money to people who call themselves as professional Brokers because most of

them are frauds I keep repeating this because that's one of the common mistakes people make in crypto and

investing by sending their money to somebody else who's calling themselves as a professional broker so I'm very

active in Twitter at Chennai to London and uh even if I'm not posting content I'm posting some of these warnings some

of these updates in Twitter and if not me you know Twitter is a great place to follow any all of the information with

regards to crypto get a quick update uh in from a financial perspective so Twitter is open in public and it so it's

a bit safer than the other alternatives a couple of updates before we jump into the actual content uh I posted about

render in my end of December 2022 episode and also in January render was about 40 cents at that point and it

jumped up to almost 1.48 in the end of January within about three or four weeks and I did mention at that point that I

am realizing some of the profits because the markets can turn at any point in time so when it went from 40 cents to

1.48 almost 250 percent jump I did talk about realizing some of the profit and without realizing a profit just you know

maintaining the the position um is not a good practice in terms of investment decision and there needs to

be a balance between greed like you know holding for a better profit and more and more profit and not selling anything and

a sensible decision in terms of how much you can sell because there will always be a market ganache or a Black Swan

event so I keep mentioning about the fact that you know realizing profits one of the most difficult things to do and

also when you realizes profit you know holding it in USD serious DT or busd spreading and maintaining them in these

stable coins is important for days like this as well so it's an extremely hard things to do but you know this this

these days you know where it has actually fallen down from it touched almost two dollars uh Brenda and then it

fallen down to almost like you know below one dollar today and these are days where this uh makes even more sense

and I did not sell at the top I didn't know that it was going to reach two dollars as it did sell I just started

realizing profits at 1.5 dollars but still it was good enough profits for me to take out and maintain my liquidity

for days like this when it falls down below the point where I'm selling so nobody can predict what the top or the

bottom is but it's a good practice to always you know try and keep yourself mindful of the fact that in crypto

volatility is always going to happen and there's always a crypto crash that is going to happen because of external

factors or blacks managements even if it doesn't you know it's always a good practice at once you realize that

liquidity even invested in a another project even if this doesn't come down at the point where you have sold it

right so just an example where Bitcoin had fallen from nearly twenty five thousand dollars

to you know below twenty thousand dollars in a span of one week and render again dropped from nearly two dollars to

less than one dollar one of my top assets which I had talked about in my previous videos so let's talk about the

blacksmen first of all what is a black Monument I kept mentioning black Monument it's an unpredictable event

which is beyond what is normally expected so like a normal course of uh you know circumstances and this is an

event that you do not expect and that's what is a unexpected or an unpredictable event is a blacks monument and this

always has a negative impact on the markets and specifically crypto Market because where there's a lot of

volatility uh as compared to some of the other financial markets now in the last year in 2022 we saw probably the most

number of Black Swan events starting from the Luna on USD crash to the FTX crashed from where you know some magnet

ride had committed Major Crimes and the bankruptcies of related bankruptcies of forms like Celsius three AC Voyager

etcetera so we had probably the most highest number of blacks monuments in 2022 and 2023 had been a literally

better year uh till this point or till this week I would say so the major three major events where the crypto friendly

bank which is called a silvergate bank which is termed by the new series is a crypto friendly mango crypto back had

collapsed and couple of days later another big Bank Silicon Valley Bank svb bank had collapsed on Friday so these

were two major Bank collapse or comparatively you know impacting the crypto Market really badly and also the

budget of the US government where the capital gains tax was significantly increased in the U.S government budget

which also negatively impacted the crypto in a way I would say but the banks are the main stories of the day

today and today we're going to be talking mainly about these two Banks right so if you had opened your news on

Wednesday this week and you would have seen almost every new article calling it as a blow to the crypto industry or a

crypto winter or you know calling silvergate Bank as particularly a crypto back or a crypto friendly bank so the

impact to crypto started on Wednesday but it was not a Major Impact to crypto as much as what was to come from the

Silicon Valley Bank fault so why was Silver Silver Gate bank called as a crypto bank because it started as a

small Community Bank for a few years and then around 2016 2017 they started a more crypto friendly approach where many

of the banks weren't being too much crypto friendly silvergate Bank started having tie-ups in Partnership crypto

exchanges to hold their funds for them so major exchanges like coinbase binance FTX all of them had funds with them in

terms of deposits loans and and even Circle for that matter which issues the stable coin of usdc and also used Silver

Gate bank for their asset collateral and maintaining the usdc in Silver Gate bank so from a technical perspective silver

gets fall was a pure banker and that's because investors in the past were pulling out friend funds at an

accelerated rate which will cause any bad to fail and we talked about this Bank Run even in one of the previous

episodes typically the bank does not hold all the money that the customers are public are depositing into the bank

because they have to make money out of it and they will probably give them as loans to the public at any point of time

if entire public entire uh you know depositors try and withdraw their funds it's going to collapse the bank because

the funds are not there with the bank at any point of time that's a liquidity crisis and that creates it's basically a

loop the more people start withdrawing and the more the back is panicking the cycle will continue to grow and this

this Loop will eventually end in what is called as a bank run so what cost it for silvergate bank is

probably I would take it back you know as further as 2021 when silver Kate Bank decided to sign up more with FTX instead

of binax in in terms of my story about FTX where I had compared between you know what binance was doing what FTX was

doing and how much of a criminal the FTX founder Sam bankmanfired was and how he was appropriating misappropriating

customer funds and using it for his own company alamata research and he was literally gambling away people's money

silvergate bank had ties with both binance and FTX at that point of time and it cut ties with Finance which was

probably doing everything by the book at that point of time and hadn't put a step wrong and yet instead of cutting times

with somebody like FTX they actually cut ties with finance and started siding up more and more with some back Metroid and

FDX and when the FTX criminal conspiracies were exposed and FTX had exploded silvergate shares started

tumbling down and there was almost nearly an eight billion dollars banker and that happened for silvergate Bank

when the FTX collapsed because silvergate bank had a lot of money that was what funds and and interaction with

FTX at that point of time they were seen as the major bank for FTX at the point of time right so

um the the general perspective from several unless was that Silver Gate Bank being the Prem the primary bank that FJ

were keeping their funds with they could have easily spotted the discrepancies where money was being moved from FTX to

Alameda and yet they did not do anything about it or they chose to not do anything about it although

Silver Gate bank had denied all of this and they said that they've done all the due diligence the basic due diligence

that the bank should do and they never saw any of this coming which is you know really hard to die just because

a bank would have probably known uh to a certain extent what was happening between FTX and alamadan an early action

from from Bank like silvergate could have saved a lot of funds for people who lost their funds with FTX

now the domino effect had started in December 2022 like I said you know eight

billion dollars being withdrawn but I think what added to the pile or what added to the Domino was the uh Bloomberg

article in January where there was an article about Department of Justice investigating silvergate in the FTX

scandal in on things it was on the second or third of January and that forced silverware to cut nearly 40

percent of the stock because there was a mini collapse of their share price and they lost nearly 50 percent on their

share price on one day and ever since that point silvergate was practically on the edge of collapse and it was

predicted or was expected that they're going to collapse at any point in time so it was no it didn't come as a huge

surprise to a lot of people from the perspective of the collapse of Silver Gate bank because it was expected to

happen it was all it needed was just a final trigger and that final trigger happened last week when coinbase

announced that they're pulling out of pulling out all their funds from silvergate bank because of all the

issues that I've seen on the 2nd of March and once coinbase announced it you know pretty much all the major exchanges

paxos Pit Stop Galaxy all of the major exchanges which had partnership with skilvergate bank started scaling back

and and started publishing uh publicly that they've pulled out all their funds from silverget bank so it started pretty

much on the second itself the final fall of silvergate bank and on 8th of March they announced that given everything

that has been happening they voluntarily announced that they are going to start shutting down the bank and they're going

to start a voluntary closure of the bank and the good thing about it was that there were no major crypto exchanges

that got impacted because most of them had already cut ties with silver get back and taken their deposits out and

also there was quite a lot of warning quite a number of warnings and it it was it resulted in a voluntary liquidation

which meant that the wine none of the bank operations is not usually is not one that follows with the usual chaos

and was going to be more of an organized Administration where they're going to wind it down and and they also issued

the full repayment of all deposits was the plan for the bank so there was a lot of panic even though the the newspapers

and the news articles had said that it's going to be a Major Impact to crypto this didn't cause as much flutter as was

expected from the the news articles of the headlines which called it as the crypto winter or the crypto bank that

has collapsed but in an extreme coincidence within a couple of days on Friday so eighth of March silver gateman

collapsed and uh 10th of March another bank a Silicon Valley Bank had collapsed and this was a bigger a much bigger

concern for the financial markets around the world and the biggest reason being the size of the bank so svb silver

Silicon Valley Bank was the 16th largest bank in United States with assets valued 200 billion dollars plus and compared to

silvergate which had probably about you know 10 to 15 billion dollars maximum value of assets it was literally 20

times bigger than the similar get bank and also it was the second largest collapse in the United States in terms

of the asset value so if you look at the uh the size of Silicon Valley Bank at the point when it collapsed you know

they were 16th in the United States they were ranked in terms of 16s although if you look at the top four you know they

had trillions of dollars worth of assets if you look at the fifth largest bank even that's nearly Silicon Valley Bank

was nearly like half the size of the fifth even though sitting at 16. so you can you can see that the top 20

companies in the amount of assets that they have how significant the Silicon Valley Bank and it was only the second

it was you know the second largest bank to fail only next to Washington Mutual which had collapsed in 2008 during the

subprime crisis and the comparison between what happened in 2008 to the recent times tells another very

important story which is during the 2008 economic crisis uh you know the greed of the banks and the subprime crisis which

snowballed caused a major chaos and caused a lot of banks to collapse at that point of time because the the

regulations were not stringent enough and if you've never understood what subprime crisis was and probably we can

talk about it another day but it's basically about Bad Mortgages being sold where overvalued mortgages were being

sold without any due television such as precisely what Supply and crisis was but that was basically because all the banks

were greedy and most of the banks had done um you know no due diligence at all when

providing loans to their customers which is not the scenario to take but the comparison between what happened during

2008 and what is happening now um is that nearly 465 banks in the the three or four years that followed after

the recession of 2008. uh nearly 465 Banks had collapsed in the United States alone in comparison if you look at what

happened in the last five years between 2008 uh 2018 to 2022 and or even till last week till March 2023 only eight

Banks had collapsed or eight Banks had failed and the biggest of these Banks had about 150 million in assets and the

rest of the banks were like 30 40 millions in assets so comparatively if you take the Silicon Valley Bank Silicon

Valley Bank collapse in March 2023 which nearly 200 billion dollars in our set the last five six years you can see the

comparatively nothing like this had ever happened and that is why it was hugely concerning that nobody had expected a

bank like Silicon Valley Bank to collapse and it came all of a sudden and it came in the middle of a period where

period people thought that everything had stabilized nothing like this is going to happen nothing like the 2008

crisis is going to happen again so what actually caused the bank run of Silicon Valley Bank I had shared a few

Twitter threads in my uh Twitter feed which talks about in detail technically what happened but a lot of this was too

uh technically detailed that it was not that easy to understand so I created a simplified version to make it a bit

easier to understand so compare this right so imagine the the federal rate so all of the the Bank home loans and the

deposit interests are all tracked to a concept called as a federal rate or like you know in UK for example it's the base

rate by Bank of England so it's very similar to what happened in RBI where there is a interest rate that being set

and the banks will follow with a trucker interest on top of it so the federal rate in 2021 2022 was about one person

let's assume right so um an ABC Bank a bank like ABC Bank is taking deposit customer deposits and

giving them 0.5 percent on interest on that deposit and is able to put a markup on top of the federal rate and giving

out Home Loans to people at a 10-year fixed rate of 1.5 percent now at this point in time it is giving loans at 1.5

percent and it's only giving deposit interest at 0.5 percent which means it's making a net profit of one person like

net interest income but it's called nii and it's in profit at this point everything is hunky-dory but in 2023

because of the inflation because of the uh you know cost of living going up and and the federal government trying to

control the cost of living they are increasing the interest rate at this point in time and this is one of the

common tools used by the government to try and fight inflation so the rate goes up from one person to five percent let's

assume now all of these Home Loans are fixed at one point five percent for 10 years so they cannot increase the the

ABC Bank cannot increase the home loan percentage but now the customers and investors they are seeing another bank

XYZ bank which hasn't tied their money into these home loans and they are able to offer three percent interest because

the federal government is offering five percent now typically the customers and investors would want to withdraw their

money and deposit it at a higher rate for with another bank where they're getting a lucrative deposit interest and

this is called you know this is typically called as interest rate shopping for Bank customers for large

investors now the bank has two choices you know either they have to live with a negative interest rate of minus 1.5

percent by giving three percent interest to the bank to the depositors to keep the depositors and live with a negative

interest income or they will have to try and somehow get the money to avoid the bank run so they have to give the money

back to the with all the support the withdrawals for the customers investors which they did not expect and they don't

have this money because most of their liquidity is now logged into this 10-year fixed room that is what happened

in this case and if you think that there was a bit of exaggeration in the story actually the

the reality was even bigger so um you know I talked about 2021 to 2023 but you know within a span of one year

in March 2022 the interest rate the federal government interest rate was 0.25 percent and today it's at 4.75

percent it's it increased much more rapidly um in the in the last you know 12 months

which the federal government had hiked the interest rate continuously and I said it went from 0.25 percent to 4.75

percent not even from one person but 0.25 percent to four point seven five percent so and UK has no no different

you know UK went from zero point to five percent to nearly four percent uh beginning of this year and that too in a

quick rapid succession so interest rates had been increased by the government and what svb had done different to the

example that we just gave ah was that you know there's a couple of differences a few comparisons that we can make is

that not all of svb's income was coming from this concept only 73 percent of svb profits come from this net interest

income they also have 27 percent other sources of Investments and revenues and even this out of this 73 percent it's

divided into two groups where one group is mainly for startup Investments a lot of startup companies get loans from from

a Silicon Valley Bank because it is a Silicon Valley Bank it is a California Bank so where startups are quite common

and the rest of it was coming from MBS or mortgage-backed Securities not a direct home loan but it's basically a a

security that is backed by a home loan or a mortgage-backed security that's commonly called as and these mortgage

back Securities were having an analyzed yield of 1.56 percent with a 10-year lock period and in 2021 ah when the you

know post covid there was a small boom that was happening um they saw a surge of deposits from

customers and with the with the government giving the incentives to the the citizens and also the the small boom

that happened they saw a small Surge from 62 billion dollars nearly about 190 billion dollars and they didn't know

what to do with this money and in a moment of bad decision making they put they chose to put majority of this money

into this 10-year locked MBS or model packed Securities which is probably one of the worst mistakes that they had done

and this is also because you know there was a large part of money that they had suddenly Acquired and they didn't know

how to properly invest it at that point and when their ni started getting negative on 8th of March when they were

experiencing a liquidity crunch on Wednesday they sold their available for sale portfolio one of the major

portfolios worth about 21 billion dollars at a 1.8 billion dollar loss now in normal scenarios they would have

waited and they could have got the full uh 21 billion dollars there was no necessity for them to sell it at a

crunch and that sell or that sale at a 1.8 billion dollar loss explain to the market that there was a

liquidity Crunch and they were selling their asset at a loss to cover the liquidity crisis and this was the first

time that the markets found out that there was a liquidity crisis going on in Silicon Valley Bank and this snowballed

into the catastrophic failure that happened in the next couple of days and again we talked about you know the

fact that it's the second largest collapse of a bank but if you compare if you look at the number of banks that had

collapsed in terms of the size Washington which will always obviously uh with 300 billion dollars was the

biggest bank to collapse in 2008 during the subprime crisis in their economic recession but comparatively even even

then you know the the the bank that collapsed after Washington Mutual was you know Indie Mac with 32 billion and

even prior to that and it's only about 40 billion so there hasn't been a bigger collapse like this

um you know in in if you leave out the 2008 even with the comparison to 2008. so how did we end up with uh the second

largest collapse in history when there were only eight banks that had collapsed and there were so many safety measures

and stringent regulations that were put in place and all the learnings that we had from to those need so one of the big

reasons the fact that we had only eight bank failures in the last few years after 2008 failure from 2018 to 2003 is

because the stringent regulations that were put in place restricted the banks from making stupid decisions or you know

doing something without due diligence and this meant that they were supposed to have reserves for the moments of

Crisis like this specifically but in 2018 president Donald J Trump signed a bill that lessened the scrutiny for what

they called as the Regional Bank so um Silicon Valley Bank as a result of being operating in like in a certain

regions um it was termed under a regional bank and the chief executive of Silicon

Valley Bank correct backer was a strong supporter of the spoof and this reduced scrutiny on the banks meant that they

operated as a regional bank and it allowed them to escape the scrutiny and the regulations that had prevented such

collapses in the last decade and which is what had led them to making an investment decision with billions and

billions of dollars at that point of time which could have been prevented if that bill was not signed or that's

regulations were not reduced for the regional Banks now let's talk about the impact to crypto and the impact to usdc

because the impact of the collapse of Silicon Valley Bank was much much bigger to crypto than the um the other bank

that had Silver Gate bank that had collapsed on Wednesday so in a span of two days and typically the biggest

impact was because of the the fud Fair uncertainty and doubt on usdc the attack on usdc so usdc is a stable coin that I

had explained in one of my videos that it's issued by a company called Circle and it had fallen down after the Silicon

Valley Bank collapse from one dollar to 0.9 and typically the the the the collateral backed stable coins are not

expected to fall from one dollar and even if it does you know it's supposed to be a small one percent deviation but

nearly a 10 percent fall on a stable coin cost chaos and it turned crazier to you know from crazy to crazier every

moment that passed on because people were writing stories without having a full understanding of what was actually

happening so I wrote a Twitter thread where immediately on that day when the issues were happening I wrote a Twitter

thread calming people down or and explaining what was happening and if you do not know what a stable coin is in

episode 20 I made an English version as well I explained what a stable coin is in usdc usdt ah dust most of these

stable coins had explained the role of stable coins in crypto I'll give you the link to that video as

well if you want to watch it and usdc is a stable coin very popular stable coin that was issued by a maintained by an

organization called Circle and it's kind of Affiliated to coinbase in general right so but it is one of the highly

governed or audited stable coins and every month there is an audited report that is published on the circle website

with regards to the reserves of usdc and how much reserves is being maintained against how much usdc is being minted

and this reports are publicly available so if you go and see the uh and this its audited and shared in circle.com

transparency if you go and see it about 44 43.5 billion dollars on circulation when I was making this video uh two or

three days back and 11.1 billion dollars are in cash lessons across the six Banks and 32.5 billion dollars or in

short-term pressure events the short-term pressure bonds are of no problem as such you know they are issued

by the government but uh out of this 11.1 billion dollars they are maintained across six Banks as per what circular

published 3.3 billion dollars is maintained or is in svb Silicon Valley Bank so if you if you look at it that's

nearly eight percent of the total usdc reserves of um a circle that is setting in Silicon

Valley Bank and the rest of the 92 percent of the results are liquid and you can see it in the audit as well but

when people talked about it they were talking as if all of the reserves of usdc were stuck with Silicon Valley Bank

that is how the story was being made up nobody explained the fact that only a small portion of usdc was sitting in

Silicon Valley Bank and even that wasn't lost it wasn't clear to people what was happening so what actually happened on

Friday was that there is a an organization a government an independent government agency called as FDIC Federal

Deposit Insurance Corporation which is which was formed in 19 back in 1933 to protect such scenarios where a bank

collapses and FDIC offers a Deposit Insurance up to 250 000 for every customer when such an issue happens they

step in like in you in UK for example FDA offers up to 80 000 pounds in U.S uh FDIC offers up to 250 000 where they

step in and they take control of the bank so they become a receiver of the failed Bank all of the bank's assets all

of the debts they come in control of the FDIC so the bank is no longer allowed to take any decision making they take full

control over the bank when such stress arises so on 10th of March 2023 uh on Friday morning FDIC shutdown svbn took

full control which meant that they can no longer operate in the way that they want and fdrc had taken full control of

it which meant there was more positive news for the depositors that they might get more of their deposits back

and so um Silicon Valley Bank will definitely have an uh deficit in terms of the

dollar value of their Assets in terms of today's values versus their liabilities but if you actually look at their asset

value on paper it will be similar to their liabilities because unlike 2008 where you know subprime

mortgages were being issued on paper against a one million dollar mortgage to a house that only cost 250 000 most of

these assets are real assets with yield bearing assets the only fact is that um you know they are not current they are

logged in and they are not currently redeemable so any healthy financial institution can actually buy these

assets at a small discount which is good for both the parties where svb gets liquidity and the financial institution

gets an asset at a smaller discount so they are able to buy like a 20 billion dollar asset at a 19 billion dollar

price which is a one billion dollar discount which is yield bearing for the next 10 years and these bigger Banks

like Morgan Stanley or JP Morgan they don't have a financial liquidity crisis and they can they can

afford to buy these things which is a win-win from their perspective right so in fact when after I had written this

and made this video and today morning on Monday morning the UK entity of svb has been bought over by HSBC so that was a

clear example of you know why a bigger bank or healthier Financial solution will actually buy the assets of spb so

like I said unlike 2008 this is a clearly different scenario where the mortgage back Securities that assume has

a properly collateralized financial instruments and will be bought or should be bought by a bigger bank or a bigger

institution so the only major issue that we're talking about is the liquidity current at this point in time and FDIC

has already come out with an action plan the full FAQs if you actually went to the website on Friday they had already

said that on 13th March when the banks open the insured deposits off to 250 000 will be immediately available to most of

the repositors and even for the uninsured amount the remaining amount you know there's going to be future

dividend payments they're going to be like you know uh dated payments available and they will come up with the

plan of action how they are going to sell off the assets of Silicon Valley bank so that they can support the rest

of the payments but there will certainly be a small portion of amount that FDIC will not be able to recover from svb in

order to pay the uh all the customer deposits but the expectation the general expectation is that 85 to 90 percent of

the customer deposits can be returned because of the fact that FDIC has stepped in and because the position SBB

is in right now so for a larger organization like Circle and pretty much many of the multi-billion dollar firms

this 10 to 15 percent um is very small against their net annual income and can be easily adjusted

against the net annual income that these companies make like a circle for example but the primary impact that we would

have is on many of the startups you know they are in their early years and 10 to 15 percent loss for a startup having

only one million dollars or two million dollars in their account is probably going to be really difficult for them to

manage because they need to pay their employees and they need to continue their operations and uh surviving a

haircut on their deposits like this is probably going to be really difficult so it is something to observe how FDIC is

supporting small startups compared to the larger organizations and there could be a wider impact on the industry in

general which is you know already recovering from covet at this point so um and what this will do to the other

Banks who could have a similar decisions or similar exposure because then svb may not be the only bank that made us to

print decision like this there might be some smaller banks that might have done something similar so how they are able

to recover from this kind of news and this kind of exposure is what something that we need to wait and watch

and again final thoughts on usdc from my perspective it's one of the most stable audited coins and I've already

mentioned in episode 20 that it's one of the stable coins that I trust along with busd and usdt if I have to rank them in

order ustc busd and then I probably put usdt as a um you know third option but you know a

lot of people are are moving their funds to usdt from usdc and selling their usdc loss which is you know ironic because

usdt has never even clearly published their resource and a lot of crypto Savvy investors at that point started an

Arbitrage process of buying more usdc and even I did the same I know I bought I announced it better as well I

converted some of my B University or usdt into usdc because I was getting more and I clearly knew it was only a

matter of you know days that it was going to go back to one dollar so the fud and panic that people create and

people who do not understand the details just reading the headlines that USD results are completely lost that is what

people try and make use of so never ever it's not Financial advice but always do your own research and

make sure that you understand something before you take a decision because personally

and when I made this video at that point it was sitting at 90 cents when I started making this video and by the

time I even finished the content on on you know Friday or Saturday it was already back up to 93 cents and today

it's at one dollar you know what I have whatever I had said on on the weekend um you know we are at Monday evening

today and it's already back to one dollar so again um you know just just make sure that you

understand all the facts before you take a rational decision if you had sold your usdc at you know less than one dollar

during this Panic then that means you need to reevaluate your position in crypto and re-evaluate your whole

investing strategy in crypto because you cannot be susceptible to Panic or use cannot be susceptible to a video like

this you need to understand the details make sure you follow the right people make sure you get the right facts before

you take your decisions again it took a lot of time for me to make this content so I'm I thank the people who put an

extraordinary amount of comments in the positive comments and positive feedback in Tamil video and again if you could

just take a take a minute to post your feedback I think it'll be really appreciated thank you and until next

time bye