Description
Like most crypto-adjacent firms, fiat banks that diversified into crypto have struggled during the crypto winter. And this was likely the case even BEFORE crypto exchange FTX declared bankruptcy in November 2022.
We’ll find out exactly how many of them are doing in the coming weeks, as earnings reports trickle out.
But generally, banks that got into crypto benefited during digital currency’s rise, and have struggled since last spring, when the digital asset sector took a downward plunge.
In this episode, Bloomberg’s Max Reyes offers up a pre-earnings preview of these banks, and where they go from here.
Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter
See omnystudio.com/listener for privacy information.
Coming soon: When nerdy gamer Sam Bankman-Fried rocketed to fame as the world’s richest 29-year-old, he pledged to donate his billions to good causes. But then his crypto exchange FTX collapsed Billions of dollars were missing, and Sam was in handcuffs. Those who knew him were left wondering —...
Published 05/12/23
It’s been another wild week of financial mayhem connected to crypto. But this time the crisis focused on banks.
It started earlier this month [March], when Silvergate Capital shut down operations. The California-based bank serviced various crypto companies like Coinbase and Gemini. But its most...
Published 03/16/23