Is crypto-friendly Cross River Bank the next to fall?

Famed short seller Marc Cohodes is on a roll. Since calling out FTX in September 2022, slightly more than a month before it actually collapsed, he’s been right again about the inevitable downfalls of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank.

He’s made money on two of them – Silvergate and Signature. Cohodes was also short on SVB last year but left the position for another bet on Carvana, an online used-car retailer based in Arizona.

It’s a move that he’s now sore about. He would’ve made money on FTX, too, if the crypto exchange had gone ahead with plans to go public last year.

Marc Cohodes / Photo credit: Marc Cohodes

In any case, the part-time chicken farmer, prolific anti-crypto tweeter, and patron saint of short sellers has made enough from the bank collapses to give back.

This week, he announced that he would be matching all donations from those who profited from shorting Silvergate and Signature. His charity of choice is autism-focused Peace of Heart Community.

Ok Gang, I have a NEW Charity that I would like those that Hit The Jackpot on $SI and or $SBNY to donate to. Its a great cause and helps people who have slipped thru The Cracks. Its https://t.co/8hr7RDtH2F and I will Match all Donations between now and April 30th.

— Marc Cohodes (@AlderLaneEggs) April 3, 2023

There’s a lot to like about Cohodes. Unless, of course, you are the subject of his relentless shitposting.

Next on his list is Cross River Bank, a 15-year-old institution focused on fintech and crypto firms. The bank isn’t publicly traded and is therefore immune to short-seller attacks – which is why Cohodes & Co. are now calling for Coinbase, the bank’s most prominent crypto customer, to be shorted.

Cross River Bank and $COIN is going to be problematic I am thinking..

Not so crypto-friendly anymore

Dodgy or not?

Will FUD take the bank down?