ChainCatcher news, research from the Chicago Federal Reserve Bank shows that last year, the withdrawals on cryptocurrency platforms like Celsius Network were "led by customers with large holdings, some of whom are mature institutional clients." The study estimates that before Celsius froze withdrawals and eventually filed for bankruptcy, 35% of all withdrawals in June came from individuals with accounts holding over $1 million; account holders with investments exceeding $500,000 withdrew the fastest and had a higher withdrawal rate. (Source link)

ChainCatcher message, renowned hedge fund manager Bill Ackman posted on social media: "The failure of Silicon Valley Bank could destroy an important long-term driver of the economy, as venture-backed companies rely on Silicon Valley Bank for loans and to hold operating cash. If private capital cannot provide a solution, a highly diluted government priority bailout plan should be considered.After seeing the Federal Reserve's actions in bailing out Bear Stearns, I don't believe any bank will step in to help Silicon Valley Bank.The government could also guarantee deposits in exchange for issuing dilution warrants and other covenants and protections. If Silicon Valley Bank is indeed solvent, this would buy time for the bank to restore its charter and raise new private capital." (source link)

ChainCatcher news, according to the Wall Street Journal, the crypto-friendly bank Silvergate has processed $8.1 billion in withdrawal requests following the FTX collapse.Silvergate disclosed in its earnings report that cryptocurrency-related deposits plummeted by 68% in the fourth quarter. To meet withdrawal demands, Silvergate liquidated the debt it held on its balance sheet and incurred significant markdown losses. Since 2013, the bank's losses from selling debt have far exceeded its total profits, amounting to $718 million. (Source link)