White House spokesperson grayscaleHe said that they are aware of the situation and compare it to other crypto institutions that are in trouble.
White House press secretary Karine Jean-Pierre said the Biden administration Silvergate BankHe explained that he is monitoring the situation of .
White House: We Follow the Grayscale Incident
At today’s White House press conference, Jean-Pierre said he would not be able to speak privately with Silvergate, but noted that some crypto companies have had “significant problems” in recent weeks, citing warnings from federal bank regulators. He talked about the risks that cryptocurrencies can pose for banks and other financial institutions.
The spokesperson said:
“In recent weeks, banking regulators have issued guidelines on how banks should protect themselves from crypto-related risks. As you know, this is a president who has repeatedly called on Congress to take action to protect Americans from the risk posed by digital assets, and will continue to do so.”
Silvergate announced last Friday that it will shut down the Silvergate Exchange Network, a 24/7 internal payment tool that bank customers can use to transact between each other on weekends or when regular banking services may be down.
