32 Articles
32 Articles
Crypto-friendly bank Silvergate to wind down after FTX blow-up
Silvergate Capital Corporation, the holding company of crypto-focused Silvergate Bank, announced Wednesday its intent to wind down operations and voluntarily liquidate the banking unit. The move came days after Silvergate shocked the industry with news that it was facing a financial crisis. The institution, which was one of the few banks that acted as an […]
Crypto-focused bank Silvergate plans to wind down following blow from FTX
Crypto-focused bank Silvergate Capital said on Wednesday it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto exchange FTX, sending its shares down 35 percent in after-hours trade.
Crypto-Focused Bank Silvergate Collapses, Files Voluntary Liquidation Following Market Meltdown
Silvergate recently announced that it would delay its annual report submission on Form 10-K because of questions raised by independent auditors and accounting firms about its figures.
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