Many startups can survive taking the 30-40% haircut on their bank balances. Very few can survive their cash being locked up for many months (especially when there are many startups in the same boat.
These "movements" are folks asking for normal processes to be suspended for the sake of that 5% or whatever and it's going to muddy the waters vs asking for the obvious "give us some liquidity now since you can immediately secure a huge chunk of it and businesses need it"
The big question is how much of the "run" has been paid, or will have to be paid at 100% because of transactions initiated before receivership. I also think 95% is a little bit optimistic from the get-go.
> They have been pretty clear that they want to do this.
An unspecified dividend at an unspecified time sometime next week is better than nothing, but it's still pretty toxic.
The FDIC is planning to pay an advance dividend of uninsured deposits next week, per their press release: https://www.fdic.gov/news/press-releases/2023/pr23016.html