Silvergate Capital Corp. revealed that it had recently survived an $8.1 billion drawdown on deposits.
The stunning collapse of Sam Bankman-Fried's FTX crypto empire is rippling through parts of the banking industry.
Minerd also predicted the Fed's restrictive monetary policy will drive a roughly 2% rise in unemployment.
The former FTX chief executive is being more selective when it comes to appearing before Congress.
A judge ruled that FTX creditors, including rich investors, can remain anonymous.
Genesis took the action after facing what it described as “abnormal withdrawal requests.”
The sharp turn of events will reshape the more than $1 trillion industry amid a possibly prolonged market downturn.
The new service will offer custody and trading for bitcoin and ethereum.
Trading volumes also declined, with spot volume sliding 44% to $9.6 billion.
Staking services are offered by many crypto exchanges as a key way to diversify revenue from trading.
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