Near 50% fall in Silvergate’s shares over FTX exposure prompts survival doubts

Silvergate Capital shares plunge as bank reveals doubts about its viability

By Allison Morrow, CNN Silvergate Capital, a dominant lender to cryptocurrency firms, is spiraling. The bank’s shares fell more than 55% Thursday after it told the Securities and Exchange Commission in a filing Wednesday night that it won’t be able to file its annual report on time and that it is evaluating its ability to stay in business. As its stock fell to a record low Thursday, the majority of Silvergate’s crypto clients, including Coinbase…

Silvergate Sinks to Record Low on Review of Going Concern Status - BNN Bloomberg

Silvergate Capital Corp.’s woes deepened on Thursday, a day after the bank raised questions about whether it can stay in business, with the shares plummeting to a record low and key partners cutting off ties to the crypto-friendly bank.

Silvergate Stock Drops Over 50% as Crypto Clients Flee Beleaguered Bank

Silvergate's clients Coinbase, Circle, Paxos, Crypto.com, Bitstamp, Cboe Digital Markets and Gemini said they will suspend business with the bank.

Near 50% fall in Silvergate’s shares over FTX exposure prompts survival doubts

The share price of cryptocurrency-focused US bank Silvergate plummeted by nearly 50% in early trading on Thursday after fresh revelations about the extent of its exposure to the collapse of crypto exchange FTX raised questions about its ability to survive.

Silvergate Capital shares drop 57% after the crypto bank delays its annual report

Silvergate said it is reviewing events since the end of last year that could impact "its ability to continue as a going concern."

Silvergate Capital shares plunge as bank reveals doubts about its viability

Silvergate Capital, a dominant lender to cryptocurrency firms, is spiraling.