[BobL]

“How is that possible?”

Easy, there are 2 protection levels for banks:

1: $1.00 to $250,000 - FDIC Basic Insurance
2: $250,001 plus - DNC Insurance at taxpayer expense (if DNC donations are sufficient).

It became clear today that SVB qualified for both.

[ConservativeInPA]

2: $250,001 plus - DNC Insurance at taxpayer expense (if DNC donations are sufficient).

DNCI is very cheap at the moment. SVB’s policy premium was much lower than FTX. But maybe SBF is a real stupid shite, and didn’t know the going rate.