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Rapid Bank Runs Reveal Deposits Are Now Magic Internet Money, Too

Federal Reserve Chair Jerome Powell says the speed of the Silicon Valley Bank run was “very different from what we’ve seen in the past.” However, Treasury Secretary Janet Yellen said she is not considering a "blanket" deposit guarantee.

Internet-era bank runs don't look anything like this. (National Archives via Wikipedia, modified by CoinDesk)
Internet-era bank runs don't look anything like this. (National Archives via Wikipedia, modified by CoinDesk)