Crypto Update | The Fishy Story Behind the Collapse of Silvergate, SVB and Signature Bank
Markets Outlook
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Silver Gate Bank and Silicon Valley Bank
Silicon Valley Bank was shut down on Friday, a nerve-wracking 48 hours before regulators got scared enough to backstop the entire system. Silver Gate Bank was a critical infrastructure player for large, compliant US-based exchanges to connect to the banking system. Its closure is a blow that narrows pathways in and out of crypto in ways that will funnel money through ever smaller veins of the broader financial world.
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