Satoshi Nakamoto created Bitcoin as a means for people to transact freely without banks or governments and ever since crypto has been defined by a libertarian spirit. This includes a lot of banter on crypto Twitter about how regulators are corrupt and incompetent, and the popular "money printer go brrrr meme" that mocks government profligacy.
So it was more than a little ironic when Silicon Valley Bank collapsed to watch many erstwhile crypto libertarians shriek that the government had to ride to its rescue. This included David Sacks, a PayPal cofounder and major crypto investor, who spent the weekend stoking warnings on Twitter of catastrophe unless the feds helped his startup buddies who had money at the bank. This led the Wall Street Journal to label Sacks and fellow billionaire Bill Ackman as "financial panic spreaders."
