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Alright, let's rewind to the beginning. The 2023 banking crisis didn't just appear out of thin air. It started with a couple of major bank failures in the US. The first domino to fall was Silicon Valley Bank (SVB). SVB was a bank that primarily catered to tech startups. These companies had a lot of money deposited at SVB, but when some of them needed to withdraw their funds, things started to go south quickly. The bank didn't have enough liquid assets on hand to cover all the withdrawals, and this triggered a **massive run on the bank**.
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