Alan Lane: “Crypto companies will still face short-term crises” – Bits Media

The CEO of the Silvergate exchange said, that the crisis in the crypto industry is not over and may become more painful in the near future.

Alan Lane (Alan Lane) Clarified, that over the next few quarters a number of exchanges and cryptocurrency funds will continue to experience some problems:

"But at some point it will all end, and we'll just wait, что станет следующим катализатором для роста или падения стоимости криптовалют».

Глава Silvergate считает, что инвесторы не должны сравнивать текущее падение цен на криптовалюту с прошлогодним. As digital assets fell due to macroeconomic trends, including rising rates and inflationary pressures, The broader global economic reset must be taken into account here.

The volume of transfers in US dollars on the exchange increased by 34%, and the net profit is 85% in the second quarter 2022 year compared to 2021. Lane thinks, that Silvergate's success is due to, that the platform adheres to a proven strategy and avoids rash decisions:

“We really try not to follow fashion trends, let's just focus on that, what we do well, that is, in fact, just solving customer problems".

Despite the collapse of several cryptocurrency companies, overleveraged, Lane remains confident in using Bitcoin as collateral for his lending program. And promises to increase transaction volumes.

Canaccord Genuity Bank Equity Analyst Joe Vafi (Joe Vafi) stated in a report to clients, that risk management was a key driver of Silvergate's positive results. Already in 2018 year, Silvergate Bank's clients became almost 500 cryptocurrency companies.