Silvergate and the Fallout From FTX

Silvergate is weird too because it also has one of these sort of nonsensical timelines, which is the FHLB is claiming that they did not trigger a prepayment. And Silvergate's not saying anything about that. So nobody knows why Silvergate felt the need to actually prepay or pay that loan, which was the final nail in the coffin. I've not seen a good explanation for exactly why signature was effectively nationalized. That kind of suggests that there was a particular interest in scrutinizing Silvergate relative to other US-based institutions that were tied up with FTX. It's interesting when you look at what's happened since what we're specifically talking about here now with Silver