On The Brink with Castle Island

Hosts Matt Walsh and Nic Carter of Castle Island Ventures explore news and deals in the public blockchain space and talk to some of the leading experts in the industry. Learn more and stay up to date at CastleIsland.vc and follow on twitter @CastleIslandVC

Weekly Roundup 02/21/25 (Milei’s Libra scandal, physical gold chaos, are memecoins dead?) (EP.598) 02/21/2025

Weekly Roundup 02/14/25 (OCC and CFTC nominations, nation-state memecoins, Tigran retrospective) (EP.597) 02/14/2025

SEC Commissioner Hester Peirce on the journey ahead (EP.596) 02/13/2025

Nathan McCauley (Anchorage) on the evolving banking and custody landscape (EP.595) 02/11/2025

Weekly Roundup 02/07/25 (FDIC Files, House & Senate Hearings, SEC crypto priorities) (EP.594) 02/07/2025

Mike Lempres on Silvergate’s Collapse, Bank Regulation, and Debanking (EP.593) 02/05/2025

Mike Lempres on Silvergate’s Collapse, Bank Regulation, and Debanking (EP.593) Former Chairman of Silvergate Bank Mike Lempres joins us for a discussion of Silvergate, the crypto-focused bank that was forced into liquidation in early 2023 following a bank run. This are the first on the record comments from any Silvergate executive following the voluntary liquidation announced in March 2023. In this episode: Mike’s background at the DoJ, at Coinbase, and how he came to be chairman of the board at Silvergate How Silvergate grew to become the premier crypto-focused bank with $14b in deposits Why the Silvergate Exchange Network (SEN) was so useful to the crypto space How Silvergate suffered a bank run and ultimate liquidation following the FTX collapse How Silvergate survived a 70% bank run Regulatory shifts in 2023 What led the decision to voluntarily liquidate What has happened at Silvergate since the announcement of the liquidation? The effect of Elizabeth Warren’s letters and short seller behavior on the collapse Could Silvergate have survived and thrived? Should bank regulators be allowed to ringfence entire industries? Silvergate’s relationship with Alameda/FTX - and could they have detected the fraud? Was Silvergate a victim of FTX How the Signature case adds to the suspicion - were regulators sending a message? What was the issue with SEN monitoring? Silvergate’s settlements with the Fed, the SEC, and the CA DFP How Silvergate was rugpulled by the government with regards to Diem The Fed’s recent evolution on the topic of banks serving crypto Mike’s outlook on crypto banking and the domestic crypto industry Why Signature and Silvergate executives are limited in what they can say publicly The problem with “confidential supervisory information” Why we may not get a “smoking gun memo” from the regulators on Choke Point 2.0 What changes would Mike make to bank regulation in the US? Lingering misconceptions about Silvergate Do Silvergate shareholders have a legal case against the government? Further reading: Nic Carter in Piratewires, Nic Carter in Piratewires, Nic Carter in Piratewires, /episode/index/show/castleisland/id/35148830