The collapse of crypto-friendly lender Silvergate has sent shockwaves through the financial industry. The bank, which was heavily focused on cryptocurrencies, announced that it will shut down all operations and liquidate assets in the wake of the recent market meltdown.

According to reports, Silvergate was hit hard by the recent crypto crash, which saw major digital assets like Bitcoin and Ethereum lose significant value. The bank’s collapse is a major blow to the crypto industry, as Silvergate was one of the few institutions that catered specifically to this market.

News of Silvergate’s collapse was met with widespread investor panic, and the bank’s stock plummeted in value. Many are now left wondering what this means for the future of cryptocurrencies, and whether other crypto-friendly banks could be at risk of collapse.

Some experts are calling for greater regulation of the crypto market in the wake of this news, arguing that more oversight and transparency are needed to prevent these types of catastrophic collapses from happening in the future.

Despite the bleak outlook, many in the crypto community remain hopeful that the industry will bounce back from the recent downturn, and that new investment opportunities will arise as a result. Only time will tell what the future holds for the volatile and rapidly-evolving world of cryptocurrencies.