CZ Speculates On Government Plot To Take Down Banks; Circle Responds To SVB Fall

Benzinga – Binance (CRYPTO: BNB) CEO Changpeng Zhao, popularly known as “CZ” in the cryptocurrency community, has raised concerns over the recent shutdown of cryptocurrency-friendly banks, stating that it feels like there is a coordinated effort by the U.S. government to shut down such banks.

In a tweet, CZ pointed out the recent downfall of two of the most prominent cryptocurrency-friendly banks, Silvergate (NYSE: SI) and Silicon Valley Bank, subsidiary of SVB Financial Group (NASDAQ: SIVB), and speculated that the U.S. government might be behind their shutdown.

Pure speculation. It almost feels like there is a coordinated effort to shutdown crypto friendly banks.

Result?

Banks are shut down.

Blockchains still running.

— CZ