Bitcoin will always have buyers said Silvergate CEO Alan Lane, in a summit where he addressed the company's stance amid market conditions.
Among cryptocurrencies, bitcoin is apart from the rest, Silvergate CEO Alan Lane said during the Oppenheimer Blockchain & Digital Assets Summit: Web 3.0 and the Creator Economy.
Markets are still exhibiting a downward trend in the wake of the collapse of FTX, volatility that Silvergate was built to withstand so that customers can access U.S. dollar transfers around the clock, Lane said. He added, “whether deposits are up or down, we have the liquidity and the capital ratios to support the volatility.”
For the company’s bitcoin collateralized lending product, mid-quarter there have been no losses or forced liquidations, Lane said, affirming that collateralized lending will remain solely focused on bitcoin.
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