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Quarterly Market Recap: Q1 2023 - [Web3 Breakdowns, EP.67]

Making Markets

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Cryptocurrency and the FTX Winddown

Silver gate was exposed as a large banking partner of FTX. There was a lot of credit concern about it and large partners began to walk away with it. The FCIC does not have actual dollars to backstop everyone. What they need to do is make sure that even though it's I can't even say 100 years now, it seems to be like every 15 year crisis that they can do something that have enough force to stop it.

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