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Silvergate executive: 'sudden shift in regulation' leads to bank closures
On September 23rd, in a new bankruptcy filing, the executive responsible for closing the parent company of 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 hold deposits for those Client Servers. However, in 2023, "sudden regulatory changes" by agencies such as the Federal Reserve, the Federal Deposit Insurance Corpora...
2024-09-22 18:19:20
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