Bitcoin Survived SVB And Silvergate Bank Fails; It Will Survive First Republic’s, Too ForbesCrypto
, back in February. I don’t want to steal his subscribers by giving any more takeaways than that.
Dr. Praveen Buddiga, co-founder of the Terareum Hybrid Crypto Exchange disagrees. He thinks crypto exchanges will be a target for traditional banks to crowd into crypto like corporate media brands crowded into the internet. Even though two crypto banks failed, Silicon Valley Bank and Credit Suisse were much bigger names. And First Republic is the second-largest failed bank in U.S. history. Traditional finance isn’t doing any better than the recent crypto failures.
Recent official comment about any new cryptocurrency regulation has been about protecting investors from fraud, and protecting the U.S. from money laundering, which Treasury SecretaryThe stress of bitcoin depends where you sit in the market – Are you running a Silvergate type of business? Coinbase? Are you just a retail investor trading on E*Trade? For most investors, bitcoin is not much different than a high risk/high reward stock.
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