Those are the very risks the banking regulators are trying to combat." "This likely consolidates crypto exposure to a handful of smaller banks, which means more liquidity risk and more concentration risk. "Those warnings make it difficult for the biggest banks to service the crypto space as we believe they have concluded that the opportunity is not worth the regulatory risk," Jaret Seiberg, an analyst at Cowen, said in a note Thursday. and the Office of the Comptroller of the Currency to warn banks about the liquidity risks that come with banking crypto companies.
The industry will be monitoring its developments, however, particularly following last week's coordinated effort by the Fed, the Federal Deposit Insurance Corp. The end of Silvergate is concerning for the industry, which now expects a slowdown in inbound flows without the SEN or enough reliable alternatives.īusinesses still have Signature Bank, whose Signet platform is comparable to Silvergate's SEN, but the company has already said it plans to limit its crypto exposure in light of recent events.
VALLEY LIQUIDATION SERIES
While some investors have welcomed bitcoin's recent sideways movement in light of a series of negative industry developments, chart analysts have been looking for the cryptocurrency to close above $25,000 to give more meaning to its year-to-date gains, now around 30%. Thursday's move pushed bitcoin below the key technical level of $22,200. Personal Loans for 670 Credit Score or Lower
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