What Bitcoin Did
Operation Choke Point 2.0: The Fall of Silvergate | Alan Lane
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Show notes
“We experienced, as a percentage of deposits, the biggest bank run in history.”
Alan Lane joins to discuss the fall of Silvergate, the bank run that followed FTX’s collapse, and how his team kept meeting withdrawals as 70% of deposits left. He explains why he believed the bank could rebuild and what changed between surviving the run and deciding to close.
We also get into Operation Choke Point 2.0, why Alan believes Washington wanted the industry cut off from banking, and the failures of Silicon Valley Bank and Signature just days after Silvergate’s wind-down announcement.
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