Crypto firms see no long term impact of fall of US banks, investors unsure

SVB crisis: After the SVB was shut down by US regulators on Friday, the crypto market plunged deep into the red, but they had largely recovered by Tuesday

The collapse of Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank in the US might create temporary liquidity issues but will not have any significant impact on the Indian crypto market in the long run, officials from several exchanges told Business Standard.

All three banks are considered crypto-friendly. SVB offered services such as cryptocurrency custody and lending. Silvergate Bank was well-known for offering banking services to the crypto industry. It created a dedicated platform to enable exchanges and other businesses to retain deposits in multiple cryptocurrencies that could be used to facilitate trades and other activities.

Signature Bank's blockchain-based