The current bear market could very well continue for a long time. Although everything seemed to be going well last year, the fall of cryptocurrencies is a dark period for companies operating in the sector. Even though things are looking bad, the CEO of Silvergate is thinking about developing bitcoin lending.
Alan Lane is optimistic about the long term
The stock market crash is hurting every corner of the digital asset industry. Just last year, bitcoin and most cryptocurrencies had a great time. However, the current trend is far from trying to reverse.
In fact, the BTC still oscillates between green and red. As a result, the other cryptos follow the rhythm since their prices are based on the price of bitcoin. Unlike most exchanges, Silvergate Exchange Network (SEN) stuck with what it knew and managed to turn the tide against the market downturn.
In fact, some crypto platforms failed to prepare for the fall of the markets. As a result, they had to make complex decisions to stay afloat. Meanwhile, just like Binance, risk management helped Silvergate grow its revenue by 34% in the second quarter.
For Alan Lane, bitcoin may be a short-term failure, but he believes in its long-term potential. Therefore, the platform remains in its comfort zone and tries its best to solve the problems of its customers. In this sense, bitcoin lending is a good idea…
Silvergate ready to develop bitcoin loans
Silvergate is a venture capital firm that allows fiat to be exchanged for bitcoin. In fact, the bank has been working for more than 20 years with crypto investors. Silvergate acted where other banks were reluctant. In fact, she realized the potential of digital assets and decided to support those who wanted to enter the sector.
As a result, the company develops with the sector and follows technological innovation. This is one of the reasons why the current bearing market does not concern him.
Alan Lane, Chief Executive of Silvergate Bank said declared recently that he wanted to develop bitcoin lending. The venture capital firm knows the potential of the leading cryptocurrency and believes that it could be the key to financial independence in the long term. According to him, this is one of the best loans they have ever granted. So he wants to see what it will look like in the future.
The SEN Leverage was built with the volatility of the crypto sector in mind. Therefore, the current trend does not scare him. Recall that the platform recently made a loan of $ 205 million to Michael Saylor’s company so that he could buy bitcoins. Therefore Bitcoin loans could develop faster than we think.
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Eddy Senga
The world is changing and adaptation is the best weapon to survive in this turbulent world. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and share an area of interest to me, there is nothing better than writing articles that are informative and entertaining at the same time.
