Global economic conditions are tightening; interest rates are in flux; and inflation has yet to be curbed. Considering the economic headwinds, the fact that Silvergate Bank, Silicon Valley Bank and other banks are breaking is not surprising.
But why now? Quickly rising interest rates are extremely disruptive to banking models, but the collapse of these particular banks has raised eyebrows.
It just so happens that these banks are important to the crypto industry.Government agencies often use the selective enforcement of convoluted or unclear rules and regulations to pursue agendas.
They can then defend the action by saying that the public’s interest was at stake.Here’s the analogy: An apartment building needs to be removed for an upcoming freeway expansion project.Read more on cointelegraph.com