While the FTX affair continues to keep the cryptocurrency world in suspense, a new structure has just been caught in the turmoil.
It is this time an American regional bank, Silvergate Capital Corporation, whose prices collapsed by 44% in session yesterday.
The establishment had the particularity of offering the possibility of placing deposits in cryptocurrencies.
Many Americans opened an account just for this purpose.
A manna at the time when the market was booming but which suddenly turned around.
Savers rushed to withdraw their money, causing the amount of deposits to drop to 3.8 billion dollars, against 11.9 billion at the end of September.
To be able to honor its withdrawals, the bank was forced to sell securities in an emergency, which led to losses of 718 million dollars according to
Les Échos
.
The Aftermath of FTX's Fall
The whole cryptocurrency world has been rocked for several months by the FTX scandal.
After being founded in 2019, this company has experienced a meteoric rise to become the second largest player in the sector in the world behind Binance, dethroning the illustrious Coinbase launched in 2012. The platform sees transit up to 90 billion dollars per month, its value explodes and reaches, at the beginning of 2022, 32 billion dollars.
Before an equally rapid tumble.
Its founder, Sam Bankman-Fried, is accused of having, from the beginning of FTX in 2019, used the money deposited by customers wishing to speculate on cryptocurrencies to finance the activity - and the risky bets - of his company. Alameda brokerage and investment.
He is also accused of having lied to the financiers who lent money to Alameda about the real financial health of the company and to the investors of FTX.
Read alsoFTX scandal: Sam Bankman-Fried let go by his followers
He finally used money
“stolen”
from his clients to pay tens of millions of dollars to political leaders, Democrats and Republicans alike, and thus try
to “buy influence”
in Washington, accused the prosecutor New York Federal, Damian Williams, at a press conference.
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