Alan Lane

Under Lane's leadership, Silvergate developed the Silvergate Exchange Network (SEN), a 24/7 real-time payments network that allowed crypto exchanges, institutional traders, and stablecoin issuers to move US dollars instantly at any hour. The SEN became critical infrastructure for major cryptocurrency exchanges including Coinbase, Kraken, and Gemini, as well as for stablecoin operators including Circle (USDC). By providing near-instantaneous fiat settlement rails to crypto businesses — a capability traditional banks were unwilling or unable to offer — Silvergate made institutional-grade liquidity provisioning possible in crypto markets. Lane guided Silvergate through its IPO in 2019 and through the crypto industry's 2020-2021 expansion, during which SEN transaction volumes grew substantially. The bank built its business model around serving crypto clients specifically, accepting the concentration risk that came with deep industry specialization. In 2023, amid broader crypto industry contagion following the collapse of FTX and cascading institutional stress, Silvergate faced a bank run as clients withdrew deposits. The bank voluntarily liquidated in March 2023, with the shutdown of SEN creating immediate disruption to fiat settlement infrastructure for major crypto operators.