“Life as a crypto firm can be divided up into before Silvergate and after Silvergate,” Sam Bankman-Fried wrote in a quote featured on the web site of the San Diego financial institution he used to switch buyer funds to his digital asset alternate FTX.
“It’s hard to overstate how much it revolutionised banking for blockchain companies.”
Silvergate was an unlikely candidate to change into the financial institution behind the $40bn crypto alternate that collapsed out of business final month.
For many of its 30-year…
