Is This a Crypto Banking Bailout?

“The fact that finance departments in companies all around the country had digested what it meant for SVB to fail and had already acted meant that there was imminent nationwide risk,” according to an assessment circulated by Beacon Policy Advisors, a research firm in Washington, D.C. At that point, as companies began moving money out of regional and community banks, the government needed to boost confidence in those institutions and “avoid the risk of a cascade of failures.”