Dear Bankless Nation,
After a couple of months of crypto peace and prosperity, there’s trouble brewing with a good old-fashioned bank run facing crypto-friendly Silvergate. Things aren’t looking great with a mass exodus of depositors and the bank staring down the barrel of insolvency.
A TradFi blowup ought to push regulators to establish clearer guidelines and protections for good faith actors aiming to innovate, but in all likelihood the federal government will just use this as another excuse to put up roadblocks for institutional players that embrace crypto.
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