Silvergate former CEO says Biden pressure led to 2023 wind-down

Silvergate Bank’s former chief executive, Alan Lane, said pressure from the Biden administration contributed to the bank’s decision to wind down operations in 2023. As reported by Cointelegraph, Lane described what he called a “coordinated attack” and said the pressure made it untenable for Silvergate to continue operating. His comments place responsibility for the bank’s liquidation on actions he attributes to the administration. The report did not provide further details in the supplied material about the specific measures involved, nor did it include a response from the Biden administration. The claim links Silvergate’s 2023 shutdown to alleged political pressure, but the supplied information does not establish independent confirmation of Lane’s account. The development is relevant to market participants tracking the relationship between digital-asset banking and US policy, although no direct market impact or changes to the related assets were specified.