[Silvergate executives: "Sudden regulatory shift" leads to bank closure] On September 23, in a new bankruptcy filing, executives of the parent company of the crypto-friendly bank Silvergate Bank said that despite the shrinking cryptocurrency industry and rising interest rates, the bank has stabilized, is able to meet regulatory capital requirements, and has the ability to continue to serve customers who retain deposits. However, in 2023, "sudden regulatory changes" from institutions such as the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) made it clear that, at least in the first quarter of 2023, these institutions no longer tolerate banks with a large number of digital asset customers, ultimately preventing Silvergate Bank from continuing its digital asset-focused business model.