2 more alarms just went off for crypto, signaling a dire year ahead

Jan 5 2023 by Business Insider

 
A trader works during the Fed rate announcement on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2019.

Reuters/Brendan McDermid

Silvergate crashed 48% on Thursday after the bank said it experienced a staggering $8.1 billion in customer withdrawals.Silvergate was forced to sell assets on its balance sheet at a steep loss to meet the withdrawals.The ongoing weakness in crypto spread to Coinbase on Monday, which fell 13% as trading volumes remain light.

The alarms...

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