The Crypto Market Will Be Confronted With More Challenges In the Coming quarters, Silvergate CEO Says

According to Alan Lane, the bear market that has affected all sectors of the digital asset industry is not over yet and may see more trouble over the next few quarters. He added that investors should not compare the current crypto depreciation to previous ones given the broader global economic reset as digital assets have fallen with macro trends including rising rates and inflationary pressures.

Lane also said that we are still interested in Bitcoin lending; we believe this is one of the best loans we’ve ever made and hope to continue to grow this business. Recently, Silvergate used the SEN Leverage program to provide MicroStrategy with a $205 million term loan, allowing MicroStrategy to buy more Bitcoin.

It is worth mentioning that Shares of Silvergate are down 42% this year, even though they have jumped 33% over the last week. The VanEck Digital Transformation ETF (DAPP), which holds baskets of various crypto stocks, including exchange Coinbase (COIN) and miner Marathon Digital (MARA), has fallen 67% this year, but risen 15% last week. Rising rates and recession fears weigh on global equity markets, especially stocks considered riskier.

Source: The Pipsafe Team -Latest Bitcoin news

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