Crypto Threatens Banking Collapse — SVB Was Just “The Preview”
As the Senate Banking Committee prepares to mark up new crypto market structure legislation this week, a warning from a senior Democratic senator has reignited debate over crypto’s role in the U.S. financial system and its connection to the banking failures of 2023.
The senator argues that the collapse of Silicon Valley Bank was not an isolated accident but an early signal of what happens when crypto-linked activity collides with an already fragile banking system.
The warning draws heavily on findings from a 292-page investigation released last September by the Senate’s Permanent Subcommittee on Investigations.
In the opinion piece on Fox News, Senator Richard Blumenthal examined the failures of Silicon Valley Bank,…
