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What the Silvergate Death Spiral Means for the Crypto Industry

The Breakdown

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Silvergate's Failure to Recover From the Bankruptcy

Although Silvergate survived the bank run, its deposits have not returned. Customers appear to be less than enthusiastic about taking risk with Silvergate. This is even though the FHLB system is entirely privately funded and has never actually needed to be backstop by government funds in its 90-year history.

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