In February, the SEC announced opposition to Binance.US’s purchase of bankrupt crypto company Voyager’s assets, but a US judge has allowed the sale to proceed after three days of hearings.
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After a brutal few months, Silvergate has given up the ghost. In this video, NLW asks how much Silvergate’s failure was caused by:
1. The inevitable problems of banking the crypto industry
2. Specific business decisions Silvergate made
3. Political pressure from over-zealous anti-crypto politicians
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SIVB stock was down 46% today. Numerous venture funds including Thiel-related ventures, USV, Founder Collective told their startups to get money out of SVB. Traditional markets worried it might be more than just crypto and tech banks.
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Silvergate Bank was shut down and put into FDIC receivership by California authorities earlier today. NLW looks at the implications for other banks.
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“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: erhui1979/ Getty Images, modified by CoinDesk.
Join the discussion at discord.gg/VrKRrfKCz8.
Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.
bitcoin, cryptocurrency, crypto, altcoin, altcoin daily, blockchain, decentralized, news, best investment, top altcoins, ethereum, tron, stellar, binance, cardano, litecoin, 2019, 2020, crash, bull run, bottom, crash, tether, bitfinex, rally, macro, price, prediction, podcast, interview, trump, finance, stock, investment, halving, halvening, too late, when, fed, federal reserve, interest rates, rates, cut, economy, stock market
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Startups and the technology sector used to be more trusted and more admired than other industries. Now they’re reviled, and the popular reaction to Silicon Valley Bank’s failure is demonstrating that more than ever. In this video, NLW explores how we got here.
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“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: erhui1979/ Getty Images, modified by CoinDesk.
Join the discussion at discord.gg/VrKRrfKCz8.
Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.
bitcoin, cryptocurrency, crypto, altcoin, altcoin daily, blockchain, decentralized, news, best investment, top altcoins, ethereum, tron, stellar, binance, cardano, litecoin, 2019, 2020, crash, bull run, bottom, crash, tether, bitfinex, rally, macro, price, prediction, podcast, interview, trump, finance, stock, investment, halving, halvening, too late, when, fed, federal reserve, interest rates, rates, cut, economy, stock market
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When the government announced actions to stem Silicon Valley Bank contagion from spreading in the banking system, they announced the preemptive shut down of the last big bank servicing crypto customers – Signature Bank. Even Barney Frank thinks it was a hit to send a message.
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