White House Spokesperson: Has taken notice of and is monitoring the Silvergate incident! Biden will continue to urge Congress to reduce crypto risks.

The US cryptocurrency-friendly bank Silvergate announced last week that it will delay the submission of its annual financial report due to "insufficient capital." Additionally, citing risk considerations, it has terminated its important SEN service. Facing a crisis, Silvergate's former partners have started to distance themselves, which has even caught the attention of the White House.

The White House is Aware of the Silvergate Crisis

According to Karine Jean-Pierre, the spokesperson for the White House, during a press conference on 3/6 at the 53-54 minute mark of the video, she stated that the White House is aware of the situation and is monitoring the incident reports. She also pointed out that many companies in the cryptocurrency industry are currently facing significant issues.

"Recently, banking regulatory agencies have issued guidelines on how banks can avoid crypto risks. As you know, President Biden has repeatedly urged Congress to take action to protect Americans from the risks posed by digital assets, and he will continue to do so," said Karine Jean-Pierre.

Regarding the issue of fairness, Karine Jean-Pierre stated that she could not make specific judgments on the Silvergate matter, but emphasized once again that the White House will continue to monitor the situation.