Silvergate identified the number of digital-assets customers it was working with each quarter, and that crowd steadily rose to 1,620 last quarter – most of those identified as institutional investors, though more than 100 were “digital asset exchanges.” However, those crypto customers’ deposits plummeted from almost $12 billion in the third quarter last year to less than $4 billion by the end of the year.
Source: https://www.coindesk.com/policy/2023/03/03/the-rise-and-fall-of-silvergates-crypto-business/?utm_medium=referral&utm_source=rss&utm_campaign=headlines