Silvergate Bank Intentionally Closed... Following Pressure from Biden Administration

Allegations have been made that the bankrupt Silvergate Bank was deliberately closed down under pressure from US regulators.
Castle Island Ventures
Nick Carter, a partner at Firm Ventures
On the 25th, Carter announced that Pirate Wires
"I believe Silvergate can withstand the decline in assets and continue down the path it has taken," he wrote in a piece for The Wires.
"I believe that the bank was on the verge of voluntary liquidation as US regulators tried to kill the cryptocurrency industry, and that it would not have been able to survive otherwise," he said.
Citing Silvergate's recent bankruptcy filing and conversations with multiple sources, Carter claims that "Silvergate Bank is a private company that is owned by Joe Biden.
"We have been instructed by the Biden administration to limit cryptocurrency deposits to 15% or less or face sanctions," he said.
With this information, Carter launched Operation Choke Point 2.0.
He became convinced that the “Evolution Choke Point 2.0” was real. This was a term first mentioned by Carter in March 2023, during the cryptocurrency crisis.
This explains rumors that there was a concerted effort by governments to block banks from holding crypto assets or doing business with crypto companies.
"The government is trying to kill off the domestic crypto industry through secret rulemaking that targets banks with a concentration in crypto assets," Carter said.
"This attempt to derail the economy caused and exacerbated the 2023 banking crisis, the biggest since the 2008 financial crisis."
Digital asset companies rely on banks to take deposits and on-ramp customers.
The crypto-friendly banks Signature Bank and Silicon Valley
Silicon Valley Bank went out of business early last year. Carter said these banks were not covered by the Federal Deposit Insurance Corporation (FDIC) or Elizabeth Warren.
The company said it received undue pressure from U.S. senators, including Sen. Elizabeth Warren, who specifically requested information about its relationship with FTX, a former Silvergate client.
Carter said he had received pressure from Silvergate insiders that the bank would be shut down if it did not comply with the 15% regulation, adding: "They're going to shut us down by 800%.
There are a million different ways to do this. If regulators demand something, they have no choice but to comply. Such restrictions have never been officially discussed or enacted as rules, but major regulators have threatened to do so.
Carter also said he doubted Silvergate's choice to liquidate voluntarily, which he said was a "dangerous move" by the company to voluntarily liquidate instead of accepting the FDIC.
"This is very unusual," he said. "In fact, when Silvergate management announced their intention to voluntarily liquidate the bank, California
Lunia's regulators had no experience with the process and were completely unsure how to proceed."
Carter also noted how rare a voluntary liquidation of Silvergate would be.
They argued that this was further evidence that the bank ultimately died not as a result of bank failure, but at the behest of regulators.
"If the 15% limit hadn't been imposed, Silvergate would be thriving right now," said one source who spoke to Carter.
It would have been thriving," he said, and Carter agreed.