CollapseCeFi2023
Silvergate Announces Bank Wind-Down
Crypto-focused bank Silvergate announced plans to wind down operations, intensifying fiat-rail concerns for the industry.
Sources
Curated references with status labels so quality can improve transparently over time.
Key Facts
Peak metricKey U.S. crypto banking rail impaired
OutcomeAccelerated migration to alternate banking and settlement channels
ChainCeFi
Year2023
Typecollapse
Tags
bankingceficontagion
Related events
Genesis Global Bankruptcy
CeFi • 2023-01-19 • Institutional lender Genesis filed for Chapter 11 after losses from 3AC and FTX contagion.
Signature Bank Closed by Regulators
CeFi • 2023-03-12 • U.S. regulators shut Signature Bank after deposit outflows, further straining crypto banking access.
Celsius Freezes Withdrawals
CeFi • 2022-06-12 • Celsius paused withdrawals citing extreme market conditions, becoming a key trigger in the 2022 contagion cycle.
Silvergate Announces Wind-Down
US • 2023-03-08 • Silvergate announced an orderly wind-down after crypto market stress and deposit outflows.