Banking Crisis in U.S. Likely to Push Crypto Firms Offshore

While an interim solution for Silicon Valley Bank has been set up in the form of a bridge bank to allow customers to use their accounts, in the long-term companies will have to move their funds to other banks. The Federal Insurance Deposit Corporation (FDIC), which manages the process, typically organizes bridge banks for up to two years, said a spokesperson for the agency. That's plenty of time for firms to go through the onboarding process of most banks.