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Silvergate Capital had run a payments network specifically for facilitating crypto transactions. The company has struggled since the fallout of FTX.
(Kitco News) - Silvergate Bank announced on Wednesday that it will be winding down its operations and will voluntarily liquidate the bank's assets to pay off creditors.
CNBC's Tanaya Macheel reports on crypto bank Silvergate Capital as shares plummet and it plans to liquidate.
Wind-down and liquidation plan follows mass withdrawal of deposits after collapse of FTX exchange
Silvergate Capital (NYSE: SI ) stock is falling hard on Thursday after the crypto bank revealed liquidation plans. According to a press release from the company, it intends to wind down operations and
Crypto-focused bank Silvergate Capital Corp became the latest casualty of a meltdown in the industry after announcing plans to wind down operations and voluntarily liquidate.
These were some of the biggest movers among U.S. stocks on Thursday:
CNBC's MacKenzie Sigalos reports on Silvergate Bank's liquidation and how it's impacting the crypto market.
Shares of crypto-focused companies fell on Thursday in premarket trading after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX's impl
Bitcoin steadied on Thursday near its lowest since mid-February, after U.S. crypto-focused bank Silvergate said it would voluntarily liquidate, the latest in a series of high-profile crypto collapses
Bets against Silvergate have paid off, as shares sink 45% after the embattled crypto-friendly bank said it will shut down its operations.
The crypto-friendly financial institution has felt the brunt of rising interest rates and FTX's collapse.
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

Silvergate Capital: The Latest Crypto Casualty

02:12am, Thursday, 09'th Mar 2023
Silvergate shares have collapsed after delaying its annual report. Questions have arisen about the viability of SI in the future.
According to a Tuesday report, Silvergate Bank, until recently one of the largest crypto-friendly banks in the US, is in seeking ways to save itself in cooperation with FDIC.
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