Hey Guys,
I'm sure you've all heard of Silvergate by now, but I bet most of you don't understand the significance of the news related to this crypto bank. Silvergate was arguably the most important bank in cryptocurrency, and that's because of something called the SEN.
The Silvergate Exchange Network or SEN made it possible for institutional investors and crypto companies to move fiat and crypto between themselves 24/7. This is required for the crypto market to function optimally, because it too runs 24/7.
The recent shut down of SEN and the banks subsequent insolvency is therefore a big problem for the crypto market. It's probably the primary cause of the bizarre price action we've been seeing. If you're wondering exactly what this means and what comes next, you need to watch this video.
Enjoy!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Silvergate Shuts Down SEN: https://cointelegraph.com/news/silver…
► Blackrock Invests In Silvergate: https://www.coindesk.com/markets/2023…
► BCB Group Building SEN Replacement: https://www.coindesk.com/business/202…
► Silvergate Building Crypto Exchange With Wall Street: https://www.coindesk.com/business/202…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
