It’s all eyes on Silicon Valley Bank today. Trading for SIVB on the Nasdaq halted early Friday morning “pending the release of material news.” Then reports circulated that the startup-centric banking unit had failed to raise fresh funds and was even mulling outside acquisition. It’s not just this bank, though. After Silvergate went belly up earlier this week, a whole slew of smaller, regional banks is getting hit hard by the market if not halted outright for volatility. As to what it means for crypto, one analyst told us the industry is headed back to the days when banks didn’t want anything to do with the coins.
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