According to Wu Blockchain, former Silvergate CEO Alan Lane stated that Silvergate met customer withdrawal demands for up to 70% of demand deposits within just a few weeks during Q4 2022, making it the only bank in U.S. banking history to withstand a bank run of this scale. The bank maintained solvency and liquidity without relying on the Federal Reserve's BTFP rescue tool, and regulators never confirmed any failure in its anti-money laundering (AML) internal controls. However, the Biden administration later launched a regulatory crackdown on the crypto industry, with federal agencies conducting joint reviews and pressuring banks to restrict services to crypto companies. This ultimately forced Silvergate to opt for voluntary liquidation and shutdown in March 2023, rather than operational bankruptcy. Lane condemned the politically motivated abuse of power against the bank and the crypto industry, emphasizing that this highlights the necessity of decentralized and censorship-resistant monetary systems. He called for continued focus on Bitcoin's long-term monetary value. https://www.(wublock123.com)/news/news-68053