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Unchained

Did Washington Crush Crypto’s Most Important Bank? Its Former Chairman Says Yes

By Laura Shin

Aired Feb 7, 2025 · 51m · Last boosted Feb 14, 2025

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Show Notes

Sign up for our free regulatory newsletter! Silvergate Bank was once crypto’s most important banking partner, handling billions in deposits from the biggest players in the industry. Then, FTX collapsed—and everything changed. In this episode of Unchained, Mike Lempres, former chairman of Silvergate, talks about how Silvergate grew into a banking giant for crypto, why Washington suddenly turned against them—even after they survived the FTX crisis, and whether Operation Choke Point 2.0 was real. Plus, did short sellers and politicians work together to tank Silvergate’s stock? And what does the future lo...

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