The 'crypto contagion' plaguing the digital asset industry has been contained for now after the government stepped in, but it won't likely be too long before the global sector feels its full impact.
The collapse of Silicon Valley Bank has heightened the public's worry about the digital asset industry, even linking the bank's demise to other entities it never had ties to begin with.
Silicon Valley Bank’s recent near-death experience sent a shiver down the spine of many a tech exec, that is, until the federal government stepped in with their don’t-call-it-a-bailout-bailout.
The Silicon Valley Bank will now need assistance from the Federal Deposit Insurance Corp. to have any hope of making its depositors whole, although even Federal Government assistance has limits.
