Hey, what's up with those two other banks that start with S, that failed the same week

as SVB?

From American public media, this is Marketplace Tech.

I'm Megan McCarty-Karino.

Okay, their names aren't quite as descriptive as Silicon Valley Bank, the failed financial

institution of choice for the startup world, which has dominated headlines this week.

And Silvergate Bank, which announced last Wednesday, was shutting down of its own accord,

and Signature Bank, the one regulators took control of Sunday, were also known for catering

to a certain clientele, cryptocurrency companies.

So what does the collapse of two of the crypto-friendlyest banks mean for that industry?

We asked Laura Shin, a crypto journalist and host of the Unchained podcast.

The crypto world in general is having a lot of trouble getting bank accounts.

They're having a lot of trouble with any kind of relationship they might have with banks.

And it does seem that the message that we're seeing from regulators, both in kind of formal

pronouncements as well as in these different regulatory actions, is that the crypto industry

probably should be kind of cut off from the banking system.

But the other thing that I've been hearing from different people who work with a lot

of different crypto entrepreneurs is that many of them are just going to other jurisdictions.

And it does look like Asia is definitely going to be picking up a lot of business in terms

of where a lot of these entrepreneurs are going.

So we'll see what happens, but it's definitely a shifting landscape.

How are you hearing all of this playing into arguments about decentralized finance,

...