On September 9, Alan Lane, the former CEO of crypto-friendly bank Silvergate, reflected on the bank's liquidation process, stating that Silvergate faced customer withdrawals equivalent to 70% of its demand deposits within a few weeks in the fourth quarter of 2022, a scale of bank run unprecedented in U.S. history. Lane noted that Silvergate had managed its balance sheet and liquidity in response to the high volatility characteristics of the crypto industry. Although it was forced to sell some highly liquid assets at a loss to repay collateralized loans, it still maintained sufficient capital and liquidity, remaining solvent throughout. The 2022 crypto industry crisis led several funds and trading platforms to file for bankruptcy, significantly reducing Silvergate's dollar deposits and triggering a bank run. Subsequently, the Biden administration and several federal agencies launched investigations into Silvergate and imposed regulatory policies restricting banks from providing services to the crypto industry. Lane believes that external criticisms of Silvergate mainly focused on its excessive reliance on the crypto industry, interest rate risks, and regulatory compliance. However, he emphasized that business concentration does not equate to a lack of risk management, as Silvergate had specifically planned for industry risks. Additionally, the bank consistently addressed deposit fluctuations with high-quality liquid assets and stated that no regulatory body had proven its anti-money laundering controls to be ineffective. Silvergate did not collapse due to insolvency or liquidity exhaustion after serving the crypto industry for nine years, but rather chose to voluntarily end operations under pressure. On March 8, 2023, Silvergate announced its orderly wind down and cessation of operations.