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Silvergate Bank’s downfall has been the subject of heated debate especially after Nic Carter, a partner at Castle Island Ventures, weighed in on the matter. He commented that the bank’s failure wasn&#39;t just an internal issue but also due to regulators’ attempt to limit the growth of crypto banking.The Fall of SilvergateSilvergate, which was once at the top of the crypto banking world, had decided to <a href="https://cryptotale.org/svb-parent-firm-considers-bankruptcy-as-an-option-to-sell-off-assets/" rel="noopener noreferrer nofollow">close down</a> last year. As per Carter, this wasn&#39;t just a random occurrence. In his <a href="https://www.piratewires.com/p/inside-biden-admin-plot-to-destroy-silvergate-and-debank-crypto-for-good-nic-carter" rel="noopener noreferrer nofollow">report</a>, Carter mentions that the Silvergate crash played a key role in U.S.’s current crypto space and without the 15% cap on crypto deposits, the bank would still be thriving today. He refers to this regulatory strategy by President Joe Biden’s administration as “Operation Choke Point 2.0&#34; which is meant to quietly push crypto-friendly banks out of the picture.A spokesperson from Silvergate said,&#34;They have eight million ways to shut us down, any way they want. When they say you gotta do something, you do it. The caps were never publicly discussed or formally opposed as a rule, but when your primary regulator threatens you, you comply.&#34;<a href="https://cryptotale.org/silvergates-collapse-linked-to-regulatory-pressure-carter/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Silvergate's Collapse Linked to Regulatory Pressure: Carter

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