80% of Schwab accts are under $250K.
The OVERARCHING KEY to this entire affair is, as usual, to ignore the MSM, who have agenda.
These banks are not failing because of crypto, or high tech startups or anything like that. It is because they have bond portfolios and the value or price of a bond declines when interest rates rise.
Simply that.
Rates are rising, their portfolio value is plummeting, and that threatens them falling under Fed regulatory capital requirements.
There is nothing anyone can do about this. The Fed dares not stop raising because if inflation then surges, everything will fall apart.
SPIC coverage is 500k half of which can cover cash.