The crypto industry lost some banking on- and off-ramps due to recent banking turmoil, signaling a potential shift toward decentralization.
Unease is rising in crypto after federal regulators seized Signature Bank, Silvergate Capital wound down operations, and Silicon Valley Bank collapsed.
The value of major cryptocurrencies rose Monday in the wake of U.S. government plans to protect SVB and Signature Bank depositors.
On Wednesday, Silvergate Capital, a publicly traded crypto bank, shared that it would “wind down operations and voluntarily liquidate” its bank division.
Crypto bank Silvergate bit the dust this week, leading some analysts to forecast bigger problems for the overall ecosystem.
Silvergate Capital Corporation, the holding company of crypto-focused Silvergate Bank, announced Wednesday its intent to wind down operations and voluntarily liquidate the banking unit. The move came