• The White House is aware of the Silvergate Bank situation and is monitoring it.
• The Biden administration has compared Silvergate’s situation to other crypto companies that have had issues recently.
• President Joe Biden has called on Congress to take action in this area.
White House Is ‘Aware of’ Silvergate Situation
Press secretary Karine Jean-Pierre said the administration is watching Silvergate’s situation and likened it to other crypto companies that have had issues recently.
Grayscale Bitcoin Trust Discount
The Grayscale Bitcoin Trust (GBTC) discount to net asset value has fallen to its lowest level in a month, ahead of oral arguments in federal court on Tuesday related to Grayscale’s SEC lawsuit. Meanwhile, FTX sister company Alameda Research has filed a lawsuit against Grayscale Investments seeking injunctive relief to realize over $250 million in asset value for the FTX Debtor’s customers and creditors. DCG is the parent company of CoinDesk and Grayscale.
Christy Goldsmith Romero
Christy Goldsmith RomeroCommissionerU.S. Commodity Futures Trading Commission will explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.Secure Your Seat
Nikhilesh De
Nikhilesh De is CoinDesk’s managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.Follow @nikhileshde on Twitter
White House Response
White House press secretary Karine Jean-Pierre said that while she couldn’t speak to Silvergate specifically, President Joe Biden has called on Congress to take action in this area regarding crypto companies experiencing issues recently