What the Sivergate Bankruptcy Means for Crypto Ecosystem ?
Silvergate Bank has been (or already been) in the brink of bankruptcy while many analysts are waiting for FDIC to announce it officially. This is not the real problem in the current situation.
The problem remains on the aftermath. Silvergate was the banking partner for many crypto companies in the USA and its potential bankruptcy will a large portion of the crypto market without reliable access in the banking system. Inaccessibility in the banking system is a large problem for new companies that will need to have access and manage their capital.
For this reason, Silvergate’s failure can be another motive for regulators to establish stricter rules for crypto companies and the way they will operate in the future.
Until then, we will see more crypto companies to exhale and the ecosystem to strengthen from the internal side….