What's the Difference Between ABLV Bank and Silvergate Bank?

ABLV Bank in Latvia was established in 1993, essentially right after the fall of the Soviet Union. They were designed only to avoid sanctions for Russian nationals and they did it by ignoring sanction directions from the US Treasury. And guess what happened? They went out of business. It was that easy. I think some correspondent banks got in trouble for helping them do this, which is what we're going to be seeing. But I do think we're not going to see prison time. Some of them are going to go out of business,. And some of them will get fined to good God hell so they know never ever to do this again.