Basically, Silicon Valley Bank lost its customer base.
That is hilariously naive.
The management team was speculating, guessed wrong, and decided to exit scam. Their CEO sold $3.5MM of his stock in the company in the last 2 weeks.
On the 7th someone traded puts expiring 3/17 and exited the position at open yesterday. That trade would have returned ~30,000%, $4k to $1.2MM. 100% that was an insider.
