Top U.S. Treasury Official Says Crypto Had No ‘Direct Role’ In Bank Failures

Nellie Liang, the U.S. Treasury Department’s undersecretary for domestic finance, doesn’t believe the digital assets sector should be blamed for the runs on Silicon Valley Bank (SVB) and Signature Bank that led to their quick demise earlier this month.

“I don’t believe that crypto played a direct role in either of the failures,” Liang said during a hearing of the House Financial Services Committee on Wednesday.

Source: Top U.S. Treasury Official Says Crypto Had No ‘Direct Role’ In Bank Failures