What the Silvergate Death Spiral Means for the Crypto Industry
The Breakdown
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Introduction
The breakdown is a daily podcast on macro Bitcoin and the big picture power shifts remaking our world. Today we are talking about the causes and consequences of the Silvergate death spiral. Since FTX failed, one of the key questions has been what other dominoes would follow. Genesis and DCG have been a key part of that question. Yesterday they delayed their annual report triggering a big selloff in aftermarket trading. And then this morning Coinbase jumped off the sinking ship announcing that they were moving their business to signature.
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Transcript
