Following the recent closures of Silicon Valley Bank, Signature Bank and Silvergate Bank and Credit Suisse’s takeover by Swiss-based rival UBS, ramifications for blockchain tech and crypto-based assets and deals are unavoidable.

The banking crisis arose less than six months after the crypto industry suffered the failure of FTX. While some proclaim the beginning of the end of crypto assets and Web3 technologies, we continue to see a multitrillion-dollar asset class and technologies with applications and utility far beyond your wallet. The leading indicator for the crypto asset class, Bitcoin, which first tumbled to less than $16,000/BTC from less than $46,000, has recently seen an increase to around $29,000 as of this writing.

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