How do you think a lot of Bitcoin-USD liquidity gets settled by exchanges and brokers? There were really two main marks doing that for the whole industry. And they both have failed. Silvergate and Signature.
Discussion
Lol so first the “crypto” industry rep is tarnished, then new regs proposals are piled on, then major market makers for the industry fail…Seems coordinated af.
IMO, will at most be a temporary on ramp issue with Bitcoin, though.
When do you expect there to be noticeable “bad for Bitcoin” impacts from those two failures? What will those impacts be?
Not sure yet. All the institutional traders are all working towards standing up alternatives, and there’s some challenger banks who are already trying to step up and fill the void.