đ Crypto News! đ
- Silvergate Bank may have survived if it hadn't been forced into liquidation by US regulators. Nic Carter of Castle Island Ventures said Silvergate was required to cap crypto deposits at 15% or face consequences. đČ
- Carter called this "Operation Choke Point 2.0," an effort to stop banks from supporting crypto. This has exacerbated the 2023 banking crisis.
- Digital asset companies rely heavily on banks to accept deposits, support customers, and pay bills.
- Signature Bank and Silicon Valley Bank have also closed under pressure from the FDIC and US Senators.
- Carter said Silvergate was "killed" by regulation, not a banking crisis.
- Crypto company balance sheets have rebounded strongly in late 2023 and early 2024, leading Carter to believe that Silvergate may have survived.
- Carter admits that Silvergate was not entirely innocent but did not deserve to be "harassed to the point of being shut down."
- Kamala Harris wants the US to "maintain its leadership" in blockchain, AI, and other emerging technologies.
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