A recent investigation by the Federal Reserve Board of Governors found that Silvergate Bank collapsed due to its overreliance on crypto clients and nepotism within the bank's leadership. The full report was not released due to confidentiality reasons. The bank's downfall began in 2013 when senior leadership changed strategy to focus on customers engaged in crypto activities, leading to concentration risk and significant losses.
The Celestia fire sparked widespread discussion about modular blockchains. In fact, modular blockchain has always been an important part of the application chain narrative and is not a new thing.
