The fire lit by Silvergate Bank and Silicon Valley Bank will make it harder for crypto to find financial partners.
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The collapse of Silicon Valley Bank (SVB) and Silvergate Capital, some of the most crypto-friendly banks in the industry, has forced many crypto firms to hold their breath. The loss of a significant banking partner for many companies means it will be even harder for them to comply with regulations and offer their services in a way that is consistent with the expectations of the United States Securities and Exchange Commission.
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In the aftermath of the banks’ collapse, the second-most liquid U.S.-dollar pegged stablecoin, USD Coin (USDC), temporarily lost its peg
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