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“Silicon Valley Financial institution (SIVB), one other crypto-friendly financial institution, comes beneath stress. The financial institution is usually considered one of many default fallback choices for trade contributors impacted by the collapse of Silvergate. Operation Chokepoint 2.0 continues tightening its grip,” Ilan Solot, co-head of digital belongings at Marex, mentioned in an electronic mail, referring to Silvergate Financial institution, a crypto financial institution that’s closing down, and to a authorities crackdown in 2013 on banks that did enterprise with the gun sellers.
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