The bank has also halted its plans to launch a digital currency and has written off the $196 million related to its acquisition of the technology and assets of Diem Association from Facebook parent Me...
Tag: 8.1B
Silvergate sold assets at loss and cut staff to cover $8.1B in withdrawals: Report
The FTX debacle has triggered a bank run on Silvergate, causing the company to sell off its assets at a loss and cut staff by 40% to cover $8.1 billion worth of customer withdrawals. According to a re...