Silvergate CEO Alan Lane said that even as the crypto market continues to be volatile, Bitcoin can still stand out from other digital currencies.
“I do think Bitcoin is separate from everything and that’s seen in how well the price has held up and the fact that we still have an active SEN leveraged book where we borrow and lend against Bitcoin ,” Ryan said at the midterm meeting.
Quarterly updates. Lane said that after the FTX crash, the market is still trending down, and Silvergate aims to withstand this volatility so that customers can transfer funds in US dollars 24/7. He added, “Whether deposits are rising or falling, we have liquidity and capital ratios to support volatility.” Silvergate claims limited exposure to FTX, no outstanding loans, and deposits on the exchange of less than $11.9 billion in customer numbers 10% of the asset deposit.