After completing the $40 million IPO, Silvergate CEO bets on the high volatility of the encryption market

According to CoinDesk, the encrypted friendly bank Silvergate Bank is spending cash from this month's IPO to expand the size of the issue. Silvergate CEO Alan Lane said in an interview that the IPO has provided new funding for new products to meet the organization's growing demand for complete cryptocurrency lending and deposit solutions. Lane said that greater price volatility could bring more spreads and profit opportunities to the encryption market. This will cause traders to increase their dollar deposits at Silvergate. Lane added: "We don't predict when this will happen, but we know that there may be a period of time when volatility will push up the volume. We want to make sure that we can help our customers when this happens… According to our experience, this has little to do with the absolute price of the asset, but is related to price fluctuations. We have seen some potential changes in customer behavior.” Lane pointed out that a potential catalyst might be the Bitcoin block reward next year. Halving, other events may include regulatory approval of cryptocurrency ETFs, hard forks to generate new coins, or exchanges affected by hacking to influence market sentiment. It is reported that on November 7, Silvergate was listed on the New York Stock Exchange under the symbol SI, and completed a $40 million IPO on November 12.