This post is for people outside of the financial services industry who might be wondering how one bank (Silvergate) lost 42% today while another one (Silicon Valley Bank) fell 60%.
Silvergate banked virtually the entire crypto industry, including FTX. The largest banks had no interest in dealing with crypto companies, so Silvergate stepped in and experienced enormous growth over the last few years. From the beginning of 2…
Silvergate banked virtually the entire crypto industry, including FTX. The largest banks had no interest in dealing with crypto companies, so Silvergate stepped in and experienced enormous growth over the last few years. From the beginning of 2…
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