Biden admin deliberately killed off Silvergate to ‘decapitate’ crypto — Nic Carter
The now-bankrupt Silvergate Bank was forced to cap its crypto deposits at 15% under threat of being shut down by US regulators, claims Castle Island Ventures partner Nic Carter.
Former crypto-friendly bank Silvergate likely would have survived had it not been forced into voluntary liquidation by United States regulators trying to “decapitate” the cryptocurrency industry, an industry executive claimed.
“I believe Silvergate could have survived its drawdown — and was on a path to do so,” Nic Carter, a partner at blockchain-focused Castle Island Ventures, wrote in a Sept. 25 Pirate Wires article.
He cited Silvergate Bank’s recent bankruptcy filings, and conversations with sources revealed that President Joe Biden’s administration told the bank that it must cap crypto deposits at 15% or face consequences.
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Author: Brayden Lindrea
