“Silicon Valley Financial institution (SIVB), one other crypto-friendly financial institution, comes beneath strain. The financial institution is mostly thought to be one of many default fallback choices for trade contributors impacted by the collapse of Silvergate. Operation Chokepoint 2.0 continues tightening its grip,” Ilan Solot, co-head of digital belongings at Marex, stated in an e mail, referring to Silvergate Financial institution, a crypto financial institution that’s closing down, and to a authorities crackdown in 2013 on banks that did enterprise with the gun sellers.
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