Molly White compared the current plight of crypto companies to that of 2017 and 2018, when they encountered “trouble accessing banking” and lacked institutional acceptance. She thinks that businesses considering banking options may have to deal with “shadier” options like shadow banks. Due to the company’s ties to cryptocurrency businesses, the New York Department of Financial Services’ decision to shut down Signature Bank was an overreach on the part of the authorities.
Crypto firms may turn to ‘shadow banks’ following major collapses – Molly White
