How SVB, Silvergate's Collapse Could Impact The Crypto Indus...| MENAFN.COM

Friday, 24 March 2023 09:53 GMT

How SVB, Silvergate's Collapse Could Impact The Crypto Industry

(MENAFN- Investor Brand Network) Two banks that had warmed up to crypto and supported tech startups have
in under a week. In a welcome move, crypto prices rallied over the weekend when the federal government came in to guarantee depositors' funds in the two banks.

silvergate capital , which is a cryptocurrency central lender, announced on wednesday that it is closing its operations and liquidating. The Silicon Valley Bank, a lender to most technology startups, crashed on Friday after depositors panicked and cashed out more than $42 billion after the bank announced...

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