I feel like the chain effect of the collapsing: silvergate -> Silicon Valley Bank -> USDC, is a very good reconning for the overall crypto ecosystem. Most of the crypto values are still built on a huge bubble, including BTC. This is just the continuation of Terra and FTX in the global bear market. That's also why I think regulation is very necessary, it's a trillion-dollar industry after all. While all these companies are highly leveraged and undercollateralized.

我觉得silvergate->硅谷银行->USDC的崩溃连锁效应对整个加密生态系统是一个非常好的清算。大部分的加密价值仍然建立在一个巨大的泡沫之上，包括比特币。这只是Terra和FTX在全球熊市中的延续。这也是我认为监管非常必要的原因，毕竟这是一个万亿美元的行业。而所有这些公司都是高杠杆和低抵押的。