All banks are not silicon valley just so you know, and reputable or not, anything can happen. If reputation was to play a role here, silicon valley imo should be considered as one since only notable companies own assets there. I think this just goes to show that no company is above a security breach.
Choosing a reputable bank is good but when something is bound to go wrong it can't be stopped, and reputation won't do much to prevent it from happening.
I agree. although when depositing money in the bank it will be guaranteed but not absolute. Traditional financial solutions all have potential overall objective or subjective risks. The case occurred from the banks of America as proof. It is not all cases will bear the risk but we also need to be cautious when choosing banks to deposit money. There will certainly not be a complete collapse of banks but being cautious and identifying risks is a good way to preserve money.