Crypto firms may turn to ‘shadow banks’ following major collapses — Molly White By Cointelegraph

In the wake of three major banks with ties to crypto firms collapsing, software engineer Molly White believes companies now looking at banking options may have to face “shadier” solutions.

Speaking on March 14 at a South by Southwest (SXSW) panel in Austin, Texas, titled “Popping the Web3 Bubble,” White opined that crypto firms’ options following the collapse of the crypto-friendly Signature and Silvergate banks may drive them metaphorically underground. White compared the situation to that in 2017 and 2018, when crypto projects had “trouble accessing banking” with less knowledge and acceptance from institutions.