Negative: The collapse of crypto bank Silvergate and the closure of Silvergate Exchange Network (SEN) pose challenges to the crypto industry, JPMorgan said in a research note on Thursday. The report adds that new depository institutions appear unlikely at this time due to increased regulatory scrutiny of the risks of cryptocurrencies such as BTC. This means that few options are left for institutional crypto investors in the United States, especially smaller and less mature market players, who will likely seek banking services in Europe or elsewhere. 😱
