Silvergate Capital Corporation is continuously liquidating its Bank assets and crypto community expecting a crypto buyer.
Silvergate Bank was a popular crypto-friendly Bank. Initially, this bank was founded in 1988. 2022’s bad economic situation created a very bad impact on the services of this Bank and finally, in March 2023, Silvergate capital corporation decided to liquidate the assets of this bank.
On 30 March 2023, A popular crypto news reporter & X3 founder Andrew informed the crypto community that Silvergate bank is continuously liquidating its assets but its most important asset, SEN (Silvergate Exchange Network), garners significant interest.
Andrew disclosed that many buyers are considering purchasing the SEN platform and here we expect that it will be a crypto company.
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The crypto news reporter said that Anchorage & Fidelity are emerging two big names, as potential buyers of the SEN platform.
SEN is a blockchain-powered fiat payment platform. The platform was popular among the Bank’s Institutional customers because of its fast & real-time settlement support.
Opportunity for Bitcoin amid US banking crisis
In 2023, some of the top Us based banks, i.e Silvergate Bank, and Silicon Valley Bank (SVB) reported a very bad financial position.
To tackle this situation & maintain trust among the US citizens over banks, the Federal Reserve Board of Governors, Federal Deposit Insurance Corporation, and the United States Department of the Treasury collaboratively decided to rescue the depositors but they ditched crypto depositors.
Many people came to know that the current situation is trying to show that the traditional financial system is no longer good for the world and here we should move toward better options e.g Gold, Silver & Bitcoin-like assets.
Read also: Ripple Exec urges US elected officials to notice Gensler’s assertions
Silvergate Bank looking for a crypto company for its particular blockchain asset
https://bitcoinik.com/silvergate-bank-looking-for-a-crypto-company-for-its-particular-blockchain-asset/feed/
https://bitcoinik.com/silvergate-bank-looking-for-a-crypto-company-for-its-particular-blockchain-asset/feed/
