The collapse of crypto-friendly bank Silvergate will likley have a significant impact on the crypto ecosystem and its ties with the banking sector in the U.S. Earlier this week, the parent company of...
Tag: silvergate
After Silvergate Now Silicon Valley Bank Considers Selling Itself; Who’s Next?
A prominent U.S. financial institution, the Silicon Valley Bank, is looking to sunset its operations as it considers selling itself after failing to raise substantial new funding. SVB, which was a lea...
Silicon Valley Bank Crashes 67% Pre-Market Amid Silvergate, Crypto Woes
SVB Financial Group, the parent firm of Silicon Valley Bank, shares plunged over 67% in pre-market hours as venture capitalists, including crypto VCs, recommend portfolio companies to move capital out...
Riot Stock Price tumbles 12%; Silvergate Bank announces shutdown
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Crypto: Silvergate Bank declares bankruptcy
News has spread that Silvergate Bank, the major banking player in the crypto sector, has declared bankruptcy. The parent company’s shares plummeted by an incredible 30 percent, triggering a new wave o...
HAVOC ALL AROUND! Silvergate collapses; Chinese data may boost Bitcoin prices; Dogetti presales skyrocket – What does this week mean for the crypto industry?
The crypto industry took a severe hit because of the FTX fiasco. The market was only gaining back momentum when Silvergate threw another blow—or got blown. Both directives work in this case. If China’...
Top Crypto News Today: Silvergate Bank Liquidates Assets, Crypto.com Struggles to Maintain Fiat On-Ramps
According to court documents filed on Tuesday, FTX, the defunct cryptocurrency exchange, is offering a $4 million bonus program to retain its staff. FTX’s CEO, John J. Ray III, wants to offer bonuses ...
Block.one Exits its Silvergate Equity Position; Reports Say
Block.one announced that the company exited its Silvergate equity position. The decision was a result of Silvergate’s failure in filing the Annual Report. B1 added that financial institutions should u...
Silvergate Crisis Pummels Global Payment Cryptos Litecoin (LTC) and Dash (DASH); TMS Network (TMSN) Remains Unaffected
After a rather calm February, the crypto markets have plunged into uncertainty again with the Silvergate crisis. The top cryptocurrency exchanges in the world, mining companies, and even institutional...
Silvergate & Silicon Valley Woes Further US Banking Bunkum
As if things weren’t bad enough for the crypto industry, an impending U.S. banking crisis could be the tip of the iceberg. Two major American banks failed in the same week. Earlier this week, crypto b...
Silvergate Made Tough Decision to Wind Down Their Operations
Silvergate began its journey in the crypto industry in 2013. But late last year, the bank announced that it decided to exit warehouse lending and cut 20% of its workforce. It gave the reason for “the ...
Block.One Unwinds Silvergate Liquidity Position At $83 Million Loss
Amid the major liquidity crisis, Silvergate Bank (NYSE: SI) decided to wind down operations and move into liquidation. This is one of the first and major high-profile blow up in the traditional bankin...
US bank woes? Silicon Valley Bank stocks plunge 1 day after Silvergate downfall
Fears have been heightened over the future of another United States bank this week after Silicon Valley Bank (SVB) announced a significant sale of assets and stocks aimed at raising additional capital...
Bitcoin slips under $20K amid Biden budget, Silvergate collapse
The price of the Bitcoin (BTC) briefly slipped below $20,000 for the first time in nearly two months, following the latest budget from United States President Joe Biden and the collapse of “cryp...
Signature Bank’s Stock Sinks 10% as Silvergate Prepares to Shut Down
Shares of Signature Bank fell Thursday after Silvergate, another leading bank for crypto firms, said it plans to wind down operations. Signature’s stock price fell upwards of 10% to around $92.40 per ...
Silvergate Crypto Bankruptcy: Why did Silvergate Crash?
Silvergate Capital, a California-based bank, has announced that it will begin the process of “winding down” its operations and voluntarily liquidating its bank after a collapse in the crypto market sa...
Crypto industry braces for impact with Silvergate exit
Silvergate is not a systematic risk for the United States banking system, but it could have a significant impact on the crypto markets, multiple sources told Cointelegraph. These may include increasin...
Bitcoin loses 21k support, as contagion from Silvergate enters banks, financials sector
Quick Take Bitcoin lost $21,000 as support and is over 5% down today This comes after news of Silvergate halting operations. Contagion spreading into the banking and financials sector of the economy, ...
Silvergate Bank Voluntary Liquidation Sparks Controversy in Crypto Industry
The voluntary liquidation of Silvergate Bank, a crypto-friendly bank, has caused a stir in the crypto industry, with many sharing their thoughts about the bank’s troubles and the broader impact of its...
Selling The Top: Silvergate Execs Cashed Out $103M As Bitcoin Peaked
Silvergate is over. Investors are likely sad, short sellers probably grinning, but 11 insiders at the one-time major crypto bank sold out big at the top — raking in more than $103 million. Former chai...
Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’ – Bitcoin News
After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously w...
Sygnum Bank sees influx in client inquiries as Silvergate winds down
As one of the U.S.’s most prominent crypto banks winds down, on the other side of the pond its Swiss analog is experiencing an influx in demand. “I think there were not only U.S. pla...
Silvergate Shuts Down
The crypto-focused bank has finally made the call to shut down operations after struggling to stay afloat in the FTX aftermath. End Of The Road For Silvergate In their latest press release, Silvergat...
Crypto Friendly Bank Silvergate Shuts Down
Key Takeaways Silvergate Bank announced yesterday it would be voluntarily undergoing liquidation. The bank assured that all customer deposits would be fully repaid. Silvergate had previously informed ...
Silvergate crypto: will liquidate its asset
Silvergate Bank, a San Diego-based financial institution known for its crypto-friendly stance, has announced that it will “voluntarily liquidate” its assets and close operations. The announcement was ...
SEC’s Crypto Crackdown: Have The Major Crypto Players Been Exposed To “Fallen” Silvergate?
The fall of FTX and Alameda Research in 2022 began a tidal wave that has since severely affected other crypto-related companies, including Digital Capital Group-backed Genesis Trading, which was even ...
Bitcoin, crypto prices subdued following Silvergate ‘wind down’ announcement
Markets • March 9, 2023, 11:27AM EST Cryptocurrency prices continued to trade in a relatively tight range, with volumes down following the collapse of crypto-friendly bank Silvergate. Bitcoin w...
Dow Jones Rallies 175 Points On Surprise Jump In Jobless Claims; Silvergate Crashes 40%
The Dow Jones Industrial Average briefly rose 175 points Thursday after the Labor Department’s surprise jump in first-time jobless claims. The price of Bitcoin declined 2% Thursday, as crypto ba...
Silvergate Bet Everything on Crypto, Then It All Evaporated
(Bloomberg) — Silvergate Capital Corp. spent its final days under siege. Most Read from Bloomberg Bombarded by short sellers, deserted by depositors and shunned by business partners, executives ...
Bitcoin, Ethereum Down 8% on the Week as Silvergate Bank Shuts Shop
Bitcoin (BTC) is down 1.7% over the past day and 8.4% in the week, as the leading cryptocurrency slid to a three-week low of $21,640 in the early hours on Thursday, data from CoinGecko shows. The worl...