Former Silvergate CEO Alan Lane claims the bank faced heavy pressure from the Biden administration. According to Lane, a “coordinated attack” made it impossible for Silvergate to keep operating, ultimately forcing the bank into liquidation in 2023.

What Alan Lane Said

Lane put the blame for Silvergate’s shutdown squarely on political pressure, calling the government’s actions a “coordinated attack.” He said this was the key reason Silvergate wound down operations and liquidated in 2023, stressing that running the bank under those conditions just wasn’t viable.

Why This Matters

The former CEO’s comments raise big questions about how far federal authorities can go in influencing private financial institutions. If Lane is right, it was direct pressure from the Biden administration that tipped the scales and led to Silvergate’s liquidation in 2023.