3 ms·
This reads a bit conspiratorial to me. Alternative headline: unsustainable business practices found to be significantly less sustainable when interest rates ri
by Kirby64 4y ago
This reads a bit conspiratorial to me.
Alternative headline: unsustainable business practices found to be significantly less sustainable when interest rates rise.
Other banks beyond Silvergate/SVB/etc were not explicitly prevented from doing business with crypto companies to my knowledge. It's just that their risk analysis teams internally decided it was not worth it. And, turns out, it seems they were right. You've crypto firm after crypto firm falling because of shady business practices, usually predicated on shoddy financial reporting that was either fraud or too opaque to deal with for the other banks.