SI

Former Silvergate executive Kate Fraher has publicly spoken out following the lifting of an SEC gag rule that had previously prevented her from sharing her account of her settlement with the regulator. Fraher characterized the restriction as unconstitutional. The development relates to prior SEC enforcement actions connected to Silvergate, the now-defunct crypto-focused bank.

Fed Chair Powell's tenure officially ended as markets faced a broad risk-off session driven by surging Treasury yields (10-year +13.8 bps to 4.597%), WTI crude jumping 4.37% to $101.16, and hotter-than-expected inflation data. Major US equity indices fell sharply on the day, erasing weekly gains, while the USD strengthened across all major pairs and precious metals sold off hard — gold -2.37%, silver -9.03%. Incoming Fed Chair Kevin Warsh is expected to face immediate pressure against rate cuts given the inflation backdrop and market repricing toward further tightening.

Silver dropped $6.55 (-7.84%) to $76.90, its largest single-day percentage decline since March 3, driven by a stronger USD and higher yields. The selloff accelerated after price broke below the 100-day moving average at $80.94, following a failed attempt to breach key resistance near $90. Traders are now watching the 50% retracement midpoint near $75.00 as the next critical support level.