Mike Lempres, former chairman of Silvergate Bank and experienced lawyer, reveals the dramatic journey of crypto's critical banking partner. He discusses how Silvergate grew by supporting major players, only to be upended after the FTX collapse. Lempres argues that political pressures in D.C. fueled their downfall, not regulatory issues. He delves into the implications of Operation Choke Point 2.0, suggests collusion between short sellers and politicians, and envisions a future for banks willing to embrace the crypto landscape.

Mike Lempres, former Chairman of Silvergate Bank and a seasoned expert in banking regulation, dives deep into the collapse of the crypto-focused bank. He shares insights about the bank's growth and the significance of the Silvergate Exchange Network. Lempres reveals how Silvergate faced a devastating bank run following the FTX fallout and examines the implications of regulatory pressures that led to its liquidation. He also discusses the complex relationship between banks and crypto, exploring regulatory overreach and the future of debanking.

In this discussion, Jared Polis and David Schweikert shine a light on the Congressional Blockchain Caucus, aiming to bridge the knowledge gap in Congress regarding blockchain technology. They tackle misconceptions around cryptocurrencies and highlight the Caucus's role in fostering bipartisan support. Mike Lempres shares insights from Silicon Valley, emphasizing the need for a supportive regulatory environment. The trio explores blockchain's potential in various sectors, including healthcare and financial access, showcasing its ability to empower individuals and innovate bureaucratic processes.