Signature and Silicon Valley Bank have collapsed. In this breaking news episode, hosts Jason Yanowitz and Jack Farley interview Joseph Wang to discuss the banking system failures and what to expect next. Joseph dives deep into the risk both banks took by not hedging interest rate risk, how this could have been avoided and whether other banks are in a similar position? Recorded on March 13, 2023, at 10:30am ET.

NOTE: This was originally filmed as an episode of "Empire," the crypto podcast hosted by Santiago Santos and Jason Yanowitz, the co-founder of Blockworks. Listen to this episode on the Empire feed: https://podcasts.apple.com/us/podcast/signature-banks-demise-whos-next-joseph-wang/id1554930038?i=1000603971972

We then discuss if the Fed's Bank Term Funding Program was the right move? To hear all this and more, you'll have to tune!

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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.