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Banking
How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout
In the end, Silvergate Bank didn’t survive. But its executives were able to avoid taking government assistance. Silvergate Capital’s share price is down 83% since March 1, the day the bank said it was unable to file its annual report.…
Replacing Silvergate’s Network Is a Challenge for Crypto Industry: JPMorgan
Silvergate had operated as a gateway for more than 1,000 “institutional crypto market participants including major crypto exchanges, miners, stablecoin issuers, market makers and digital asset fund managers that have been using its…
Digital Asset Inflows Will Slow Without On-Ramps Between Fiat and Crypto: Morgan Stanley
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Crypto’s Banking Problem Is Not Ironic
If we look at crypto exchanges, Silvergate is so well-liked because a) it gives access to banking in the first place and b) Silvergate ran the Silvergate Exchange Network (SEN). SEN, which was recently disabled, allowed 24/7 instant…
Crypto Clients Flee Silvergate Bank, Stock Falls 50%
On Thursday, Coinbase, Circle, Paxos, Crypto.com, Bitstamp, Cboe Digital Markets, Galaxy Digital and Gemini all announced they would suspend Automated Clearing House (ACH) transfers and other business operations with the bank, days after…
The Rise and Fall of Silvergate’s Crypto Business
Silvergate identified the number of digital-assets customers it was working with each quarter, and that crowd steadily rose to 1,620 last quarter – most of those identified as institutional investors, though more than 100 were "digital…
What Now for Crypto Banking?
But although payment and custody services are important banking functions, they are peripheral to the business model of a traditional bank. The business model of a traditional bank is to borrow at a low interest rate, lend at a higher…
Crypto Bank Custodia's Bid for Fed Supervision Rejected Again
The Federal Reserve Board announced Thursday it had again rejected crypto bank Custodia's bid for Fed supervision.
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DZ, Germany's Second-Largest Bank, Taps Metaco for Digital Asset Custody
This is the fourth such partnership Metaco has made with major financial institutions in eight months.
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Caitlin Long Sees 'Coordinated Effort' Among Regulators for Custodia Rejection
Custodia Bank’s CEO says crypto will find its way into the traditional banking system and regulators could be playing ‘whack-a-mole’ years down the road.
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