Top U.S. Treasury Official Says Crypto Had No ‘Direct Role’ In Bank Failures

The 2 regional lenders – and a smaller establishment, Silvergate Financial institution, that arguably sparked the latest blaze that unfold by means of U.S. banking – took enterprise dangers that undermined their resilience, in accordance with their regulators. Federal Reserve Vice Chairman for Supervision Michael Barr stated the difficulty with SVB, for example, was rooted in “basic rate of interest danger administration.”