In a shocking turn of events, crypto-friendly lender Silvergate has collapsed, causing a significant drop in Bitcoin volume. The collapse of Silvergate is believed to be due to mounting woes that have been hurting traders and stakeholders for some time. According to reports, the failure of Silvergate was “disappointing but predictable,” as warned by Elizabeth Warren.

The collapse has caused panic in the industry, with crypto stakeholders scrambling to avoid exposure to Silvergate. Several traders have confirmed that they have no exposure to the shuttered financial institution.

The collapse has also left a trail of devastation in its wake, with many traders and investors losing millions of dollars. The collapse of Silvergate highlights the risks involved in the cryptocurrency industry, with experts warning that more institutions could suffer the same fate if regulatory oversight is not increased.

The collapse of Silvergate is a severe blow to the crypto industry, which has grown in popularity in recent years. The event highlights the need for increased regulatory oversight and better risk management practices to ensure that the industry remains sustainable and viable in the long run.