[Feature] Decrypting the Crisis of Silvergate and Silicon Valley Bank
A high-stakes gamble in a U.S. dollar interest rate hike cycle.
![image Coinlive](https://image.kolive.co/cryptotwits-static/7e98ef7a8b36b9e8473567f76fa74964.png)
A high-stakes gamble in a U.S. dollar interest rate hike cycle.
The company did not say whether it plans to submit a bankruptcy filing.
Blaming "recent industry and regulatory developments," crypto-friendly bank Silvergate announced today that it is winding down operations.
Also the Washington Commanders’ private-jet fees, Greenbrier’s private-jet fees, private-equity advisory boards’ luxury travel and LJIM/SJIM.
Both companies were sizable borrowers from the lender, though Marathon late last year moved to pay down a portion of its debt.
Twitter user Genevieve Roch-Decter, CFA, Grit Captial’s CEO, shared on her Twitter with regard to why the market is worried about Silvergate Bank.
The bank facilitated $142 billion worth of transfers between crypto exchanges and financial institutions in the first quarter.