Silicon Valley Bank collapse: Crypto advocates call out “opaque” financial system

Published by
Euronews (English)

The collapse of Silicon Valley Bank (SVB), the biggest bank failure in the US since the 2008 global recession, set off panic around the world as governments tried to assess its impact on tech start-ups, other financial institutions and even pension funds. But crypto executives and investors – who have endured an extremely volatile market over the past year – seized on the moment to say “I told you so”. “A lot of us believe that cryptocurrency and blockchain are superior technology for running the financial system,” said Brad Nickel, who hosts the crypto podcast Mission: DeFi. “Silicon Valley B…

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