[phphphphp]

Pretty much nobody has enough cash held in a bank account for this to be a concern. People were worried about SVB because it was so overrepresented with accounts of more than the insured limit because it was used by cash-rich technology companies. A normal person, even if they’re rich, probably has most of their net worth in assets (real estate, investments) and is not holding cash.

Just don’t exceed the insured amount in a single bank, and if you do need to have more than $250k in cash… either open a second account at a different bank or donate it.

[leetrout]

Why should someone donate their savings?

Putting money in the stock market is not the answer for everyone and their savings.

[em500]

Banks are slow moving institutions. I think most have not yet come to grips with the idea of a bunch of 20-somethings getting handed millions of $ for a nice plan but with $0 revenue. OTOH, SVB was supposed to be specialized in such cases.