binance BNB/USD CEO Changpeng Zhaopopularly known as “CZ” in the cryptocurrency community, has raised concerns about the recent shutdown of cryptocurrency-friendly banks, stating that it feels like there is a coordinated effort by the US government to close such banks.

In a tweet, CZ pointed out the recent fall of two of the most prominent cryptocurrency-friendly banks, silver gate S.I and Silicon Valley Bank, subsidiary of SVB Finance Group SIVBand speculated that the US government could be behind their shutdown.

While the banks may have been shut down, CZ emphasized that the blockchains are still operational, indicating that closing the banks will not affect the overall functioning of the blockchain cryptocurrency Industry.

However, this development has raised concerns in the cryptocurrency community, particularly regarding the future of crypto-friendly banks in the US.

CZ’s tweet received widespread attention and support from the cryptocurrency community, with one Twitter user stating that only CZ can lead the community out of this darkness.

However, CZ reiterated that a decentralized ecosystem works better without a leader and there is no need for leaders in the cryptocurrency industry.

In the meantime, Circle Internet Financialthe company behind the stablecoin USDC/USDhas announced that it will cover any potential shortage of assets backing its stablecoin in the event it does not receive the full $3.3 billion cash reserve it held at Silicon Valley Bank.

Also read: Binance and Coinbase scramble to halt USDC conversions amid Silicon Valley bank chaos

This comes after the Federal Deposit Insurance Corporation (FDIC) seized SVB’s assets on Friday, raising concerns about the value of USDC.

USDC is a stablecoin that aims to be pegged to the US dollar, but its value had fallen after the SVB collapse.

In a blog post on Saturday, Circle stated that it will “stand behind USDC and cover any shortfalls with corporate resources…