“These events highlight Silvergate Bank’s significant operating challenges, in particular the profitability, funding and liquidity risk associated with amplified deposit volatility driven by uncertainty in the crypto currency market and the bank’s narrow business model,” Sadia Nabi, a senior analyst at Moody’s Financial Institutions Group, said.
Source: https://www.coindesk.com/business/2023/01/06/jpmorgan-downgrades-silvergate-capital-after-4q-results-shares-slump/?utm_medium=referral&utm_source=rss&utm_campaign=headlines