The Bank Run on a Real Bank

In September, most of Silvergate's money was in high-quality bonds which had zero risk weights. The minimum that a bank would want to get to is 5% regardless of risk wading of their assets as below that they're no longer considered well capitalized. This announcement caused the stock price to halve and according to Bloomberg caused Coinbase, Galaxy, Paxos and other crypto firms to stop accepting or initiating payments through Silvergate. So there we go, a bank run on a real bank caused by crypto-related losses and crypto volatility.