Blaming “recent industry and regulatory developments,” crypto-friendly bank Silvergate announced today that it is winding down operations. According to a Wednesday press release by Silverg...
Tag: silvergate
Marathon ends its credit facilities with Silvergate, prepays loan
Bitcoin miner Marathon Digital Holdings said it repaid its term loan and ended its credit facilities with liquidating Silvergate Bank, reducing its debt by $50 million. “We have been actively ...
Bitcoin Miner Marathon Digital Terminates Credit Facility With Crypto Bank Silvergate
Marathon said that on March 8, the term loan prepayment was completed, and the company’s credit facilities with Silvergate Bank were terminated, reducing its debt by $50 million, according to a statem...
Silvergate to shut down; 3AC founders advance OPNX plans
Ad The biggest news in the cryptoverse for March 8 saw Silvergate Capital announce that its crypto bank will halt operations following earlier reports that it would attempt a recovery with the FDIC. M...
Silvergate Stock’s Decline and Its Connection With Other Firms
Silvergate Capital’s stock fell 43% on Thursday. The bank is a leading crypto-friendly bank. The Silvergate Exchange Network (SEN) of the Bank is an immediate payment network for users of the digital ...
Crypto-focused Silvergate Bank to shut down operations
Silvergate Bank decides to liquidate its assets and close shop The bank claims it will make full repayment on deposits The cryptocurrency market sees another player close business. Silvergate Bank, th...
Silvergate Bank Announces Voluntary Liquidation as Crypto Industry Woes Persist – Bitcoin News
At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the company’s assets. The news follows significant finan...
Silvergate Bank will halt operations and undergo liquidiation
Ad Silvergate Bank will wind down operations and undergo liquidation, according to a March 8 press release from its holdings company, Silvergate Capital. Silvergate to shut down bank Silvergate said t...
Silvergate To Close Bank, Wind Down Operations
Per several reports, crypto-friendly bank Silvergate will liquidate the financial institution and reduce its operations. The bank faced issues following the collapse of one of its major partners, cryp...
Silvergate Capital Corporation will ‘voluntarily liquidate’ Silvergate Bank
The parent company of Silvergate Bank, known to many in the space as one of the major crypto banks, has announced plans to “wind down operations” and liquidate the bank. In a March 8 announcement, Sil...
Crypto Bank Silvergate Announces ‘Voluntary Liquidation’
As a result, major crypto clients announced they would suspend their relationship with the bank, and its stock price fell 58% in intraday trading to an all-time low of $5.72 – down over $115 over the ...
Silvergate Reveals Intent to ‘Wind Down’ Operations
Crypto bank Silvergate is calling it quits. The company said Wednesday it intends to “wind down operations” and voluntarily liquidate the bank, calling it “the best path forward.” “The bank’s wi...
Silvergate will liquidate bank, wind down operations
Silvergate Capital Corporation said it will wind down operations and voluntarily liquidate the Silvergate Bank in accordance with applicable regulatory processes. “In light of recent indus...
Silvergate In Talks With FDIC In Bid To Salvage Bank
United States Federal officials are meeting with Silvergate management to discuss ways in which to save the troubled bank. FDIC Helping Silvergate Silvergate Capital Corp is on the verge of shutdown,...
GBTC discount narrows, bitcoin trades above $22,000 as Silvergate leads drop in stocks
Markets • March 8, 2023, 11:04AM EST Grayscale’s premier fund traded higher as its discount narrowed following what some perceived as a successful day in court. Crypto prices slipped across the ...
ARK: buy Coinbase stock despite Silvergate
Cathie Wood’s ARK Invest continues to buy Coinbase stock for the sixth consecutive month, still ignoring the Silvergate bank failure situation. Here are the details. It is worth recalling that ARK is ...
Cathie Wood’s ARK ignores Silvergate, buys Coinbase stock for 6th straight month
Bitcoin (BTC) exchange Coinbase has remained a firm “buy” for ARK Invest throughout its recent price drop. The latest data shows ARK continuing to buy COIN shares despite bankruptcy concerns over Silv...
Silvergate turns to US congress agency for help
Silvergate Capital is reportedly holding talks with the US Federal Deposit Insurance Commission (FDIC) to get ideas on remaining afloat as its financial woes worsen. Silvergate Capital, one of the num...
Failing bank Silvergate and FDIC are discussing recovery plans
Ad Failing crypto bank Silvergate is exploring ways to make a recovery with U.S. regulators, according to a report from Bloomberg on March 7. Officials have visited Silvergate HQ Bloomberg reported th...
Silvergate reportedly talks with FDIC on ways to avoid shutdown
United States banking regulators have reportedly been sent to Silvergate’s headquarters in La Jolla, California — looking for ways to save the crypto-friendly bank from a possible shutdown. A M...
White House watching Silvergate in crypto fallout
The Biden Administration is eyeing Silvergate Capital after the La Jolla, California-based crypto bank issued a going concern warning and announced the shuttering of its exchange network last week. In...
Signature Bank, Stablecoins Might Benefit From Silvergate Bank Crypto Exchange Network’s Demise
Now, the network has been shut down – closed last week as the bank’s parent company, Silvergate Capital Corp., acknowledged there were questions about its ability to continue as a “going concern,” and...
With Extreme Short Interest Levels, Has Silvergate Hit Meme Stock Status?
Though the sum investors are betting against Silvergate remains extremely high, one analyst is not ready to label the company a so-called meme stock. Nearly 87% of Silvergate’s shares are shorte...
White House Will ‘Continue Monitoring’ Silvergate Bank Reports: Press Secretary
White House Press Secretary Karine Jean-Pierre has said that the White House is “aware of the situation” regarding troubled crypto bank Silvergate, and will “continue monitoring the reports.” “I...
Impact of the Silvergate collapse on crypto — Watch The Market Report live
This week on The Market Report, the resident experts at Cointelegraph discuss all the details regarding Silvergate and its impact on the crypto market so far. We kick things off with this week’s top s...
Biden administration is all eyes on the Silvergate saga
According to a White House representative, Joe Biden’s administration is “informed of the issue” at Silvergate. As the situation develops, it will continue to follow news on the problematic bank. On M...
Silvergate: crypto bank near bankruptcy
Bad news for the crypto bank Silvergate After collapsing on the stock market a few days ago, and after being dumped by virtually all the major exchanges, there is a new downfall for the bank. In fact,...
Silvergate Insolvency Concerns Raise Hopium for Stablecoins
Stablecoin volume is rising as the latest crypto bank fallout – Silvergate – continues to worsen. Silvergate, the crypto-friendly bank, is facing a customer exodus and a steep decline in share price a...
White House ‘aware of the situation’ at Silvergate, says spokeswoman
The Biden Administration is “aware of the situation” at Silvergate and will continue to monitor reports on the troubled bank as it unfolds, according to a White House spokesperson. Speaking at a press...
Bybit Halts USD transfers as Silvergate Exchange Network Ceased
Bybit announced the suspension of USD bank transfers via bank or wire transfers. Without naming the partner, the fourth-largest crypto exchange in the world by volume was announced via a blog post, ci...
White House Is ‘Aware of’ Silvergate Situation, Spokeswoman Says
Join the most important conversation in crypto and web3! Secure your seat today White House press secretary Karine Jean-Pierre said the Biden administration is monitoring Silvergate Bank’s (SI))...
Powell Hearing To Wash Out Silvergate FUD?
Crypto News Today: After a relatively bullish first two months of the year 2023, the cryptocurrency market is currently exposed to FUD around the Silvergate crisis. Interestingly, the FUD around Silve...