SILVERGATE'S SHUTTERING CAUSED BY ‘INTENSE REGULATORY PRESSURE'

Summary from the TLDR Crypto newsletter

Silvergate Bank's closure was driven primarily by intense regulatory pressure rather than a failure to handle bank runs post-FTX. The federal bank regulatory agencies shifted their stance to become more intolerant of banks heavily involved with digital asset customers. This pressure undermined Silvergate's business model, which prioritized digital assets, leading to its eventual bankruptcy despite the bank's ability to manage a bank run and meet its financial obligations.