TL:DR:
- Rebecca Rettig has resigned from Silvergate Bank’s board of directors
- She has accepted a new executive position at Polygon Labs
- Silvergate Bank is currently under scrutiny from the U.S. Department of Justice
The Future of Crypto Policy
The resignation of a board member of Silvergate Bank, a crypto-friendly institution, has shed light on the rapidly evolving crypto industry. Rebecca Rettig, a graduate of Columbia Law School and former general counsel of Aave Companies, has decided to pursue a new opportunity at Polygon Labs as the company’s first chief policy officer.
In her tweet announcing her move, Rettig stated that she had done “some soul searching about the industry & how to build a future I believe in” and that she believes the “most important thing right now is getting crypto policy right.”
The Resignation of Rebecca Rettig
Rebecca Rettig, who joined Silvergate’s board in March 2022, notified the company of her resignation on Thursday. According to the filing with the Securities and Exchange Commission (SEC), Rettig has accepted a new executive position at another company and will be focusing on her new commitments. Silvergate stated in the filing that her resignation was “not the result of any dispute or disagreement.”
Polygon Chain: A Growing Player in the Crypto Industry
Polygon, previously known as the Ethereum Polygon, is a Layer 2 scaling solution for Ethereum that provides faster and cheaper transactions on the Ethereum network. With the growing demand for Ethereum-based decentralized applications (dapps), the Polygon chain has become an increasingly attractive alternative for projects looking to scale and improve the performance of their dapps.
One such project that has jumped ship to Polygon is DeGods, an NFT platform originally built on Solana. DeGods chose to switch to Polygon due to its faster transaction times and lower costs, which have made it more suitable for the growing NFT market.
Benefits of the Polygon Chain
The Polygon chain offers several benefits to projects looking to scale and improve their dapps. Firstly, it provides faster transaction times, which is essential for dapps that require fast and efficient processing of transactions. Secondly, it offers lower costs, making it a more affordable option for projects that are looking to reduce their operating expenses. Finally, the Polygon chain is more secure, providing a more reliable platform for projects to build on.
The Importance of Crypto Policy
As the crypto industry continues to evolve, it is becoming increasingly important to get crypto policy right. With the growing demand for blockchain-based solutions, projects are seeking alternatives to Ethereum that offer faster, cheaper, and more secure platforms. The Polygon chain, with its growing popularity and proven track record, has become a viable alternative for projects looking to scale and improve their dapps.
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