🔁Mario Nawfal:

SUDDEN REGULATORY SHIFT SHUTS DOWN SILVERGATE BANK

A Silvergate executive claimed that the bank’s closure in 2023 wasn’t due to financial instability but rather a “sudden regulatory shift.”

Regulators like the Federal Reserve and FDIC pressured banks serving crypto clients, which forced Silvergate to wind down its operations.

The crypto-focused bank had met capital requirements but couldn’t continue its business model under these new pressures.

Source: The Block
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