Weekly Roundup 03/10/23 (Silvergate wind-down, NYAG comes after ETH, more bank runs) (EP.405)

Matt and Nic are back for another tumultuous week of news and deals. In this episode: 

• Nic’s Vespa crisis
• FTX crime family update
• Grayscale’s oral arguments go well against the SEC in the GBTC case
• Binance.US wins the right to buy the Voyager assets in court
• NYAG sues Kucoin and alleges that ETH is a security
• Silvergate is undergoing an orderly wind-down of the bank
• Why did Silvergate really collapse?
• Why are regulators trying to precipitate bank runs?
• Structural issues explaining why Silvergate’s deposits were so correlated
• SVB experiences a bank run
• Are the Silvergate and SVB difficulties warning sights that the Fed’s rate regime can’t last?

Content mentioned: 

• How Banks Fail, by Austin Campbell