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Elon Musk Sends Cryptic Message About the Banking Crisis

197
TheStreet.com
·3 min read
Elon Musk Sends Cryptic Message About the Banking Crisis

The crisis of confidence in the banking system continues to intensify, despite rescue plans for banks that are showing signs of weakness. Silicon Valley Bank, a major player in financing tech and biotech startups as well as small businesses, collapsed on March 10 after a run by depositors who were worried about losing all their funds in the event of a bankruptcy. Regulators also had to close Signature Bank in New York on March 12, after another bank run.

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