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- Crypto Bank Silvergate To Shut Down in Face of Market Turmoil- U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms- Sillicon Valley Bank Facing Capital ShortageSilvergate, the San Diego-based regional lender that transformed itself into a go-to bank for the crypto industry, is the main protagonist for news this week. The bank announced on Wednesday that it will enter voluntary liquidation, motivated by recent industry and regulatory developments. According to several industry heavy hitters, the impact of the Silvergate situation on the broader digital asset ecosystem is likely to be minimal. Another specialist bank to keep an eye on going forward, though, is Silicon Valley Bank, who is facing a capital shortage.Crypto prices have taken a tumble in the last part of this week, likely due to a mixture of ‘bad’ news. In addition to the Silvergate saga, the U.S. Treasury Department proposes a 30% excise tax on mining. The U.S. Government is apparently selling $1 billion of seized bitcoin, and Celsius burned $500 million of wrapped bitcoin. In other industry news, the U.S. DOJ appeals a New York judge’s approval of Voyager’s sale to Binance. Something fishy is likely going on with Huobi and Justin Sun, as usual, and the U.S. Fed is ramping up its efforts to acquire the right expertise to handle crypto. And lastly, the New York Attorney General alleges that Ether is a security in a KuCoin lawsuit.What's new from our research analysts this week?

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