Silvergate Exposed: It's Not A Bank | John Maxfield

Silvergate Bank is particularly significant because it was not originally a bank, but rather a trading platform that facilitated the 24-hour day real-time frictionless transfer of cryptocurrencies between the people on its platform. As a result, Silvergate Bank was heavily exposed to the risks of cryptocurrency investments, which are considered one of the riskiest asset classes due to their volatile nature. When the prices of cryptocurrencies crashed, Silvergate Bank lost 70% of all its deposits within a two-week period.Show more

Watch this short video from How Worried Are Actual Bankers About The Banking System? | John Maxfield.

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