Silvergate CEO Lane Talks About BTC and the Future of the Cryptocurrency Market

Alan Lane, CEO of Silvergate, which continues its cryptocurrency activities, made evaluations about Bitcoin (BTC) and the cryptocurrency market.

Alan Lane, the company's CEO and former TradFi banker, noted that the crypto sector may still have a few problems for some exchanges and crypto funds in the next few quarters, "But at some point, it will all be over and then we will just wait for what the next catalyst is." However, Alan Lane also emphasized that investors should not compare the current crypto price decline to previous ones given the overall shift in the global economy, as digital assets have fallen in tandem with macro trends such as rising interest rates and inflationary pressures. Given the downturn in the crypto market, expert analysts expected a weak quarter for crypto companies ranging from exchanges to miners, while Silvergate's second-quarter earnings reversed this trend. Silvergate Exchange Network (SEN), a fiat crossing platform for Bitcoin (BTC) markets, recorded a 34% year-over-year increase in US dollar transfers in the second quarter, while net revenue grew 85% year-over-year. Despite the recent collapse of several crypto-linked financial institutions, Lane said, "We're definitely still interested in lending against Bitcoin. We believe this is the best lending we've ever done and we want to continue to grow it." Source: Bitcoinsystem The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided on a personalized basis, taking into account the risk and return preferences of individuals. The content, comments and recommendations contained herein, which are in no way directive in nature, are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.