• Nic Carter accused the Federal Reserve of playing a role in Silvergate’s liquidation.

• Carter believes Silvergate was the first casualty in a crypto crackdown campaign.

• The government attempted to blackmail Silvergate because of its link with FTX.

Cryptocurrency expert Nic Carter has pointed the finger at the Federal Reserve, alleging they played a major role in the well-known Silvergate liquidation of early 2023. Carter contends that the Fed pressured the California-based bank to scale back its crypto business. To comply with such a recommendation, Silvergate would have been forced to restructure its business, ultimately leading to its liquidation.

In an X (formerly Twitter) post, Carter asserted that Silvergate was the first casualty in a crackdown campaign against banks involved in the crypto space by the Biden administration. Carter believes the Fed, FDIC, and OCC launched “operation choke point 2.0” to accomplish their goal.

This is the smoking gun: Silverage was solvent and able to operate, but the Fed had informed them they had to curtail their crypto business. Without a crypto business, they would have had to reshape the entire firm. It was _…

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