Crypto-friendly Silvergate bank is not healthy financially; the reasons are its crypto-related deposits. The harsh crypto winter and its alleged involvement in FTX-saga had cost the bank dearly. Rumor...
Tag: silvergate
White House ‘aware of’ stressed crypto friendly bank Silvergate, says press secretary Karine Jean-Pierre
Ad On March 6, White House Press Secretary Karine Jean-Pierre was pressed on whether the President was monitoring the evolving situation around the stressed crypto-friendly bank Silvergate. “We won’t ...
Crypto prices flat, Silvergate declines ahead of Powell testimony
Crypto markets traded relatively flat as the market prepares for Federal Reserve Chair Jerome Powell’s Congressional testimony on Tuesday and the release of U.S. jobs data on Friday. Bitco...
Crypto-Friendly Silvergate Bank’s Situation Being ‘Monitored’ by White House, Spokesperson Says
During her White House press briefing Monday, Jean-Pierre said she couldn’t speak to Silvergate specifically, but noted that a number of crypto companies have “experience[d] significant is...
No More SEN. Now What?
After Silvergate’s March 1 revelation to regulators that it’s in trouble, crypto companies took a step back. Analysts and investors are wondering how the industry will pivot without a key access...
Silvergate Bank’s Future Still Alive? Will Potential Bailouts Save It?
The California-based Silvergate bank warned in a filing last week that it might not be able to remain operational for the next twelve months, which led to a bank run where depositors rushed to move th...
Signature can ‘thread the needle’ on cutting crypto as Silvergate collapses: JPMorgan
As crypto-exposed bank Silvergate Capital (SI) faces financial and regulatory concerns that have raised questions about its long-term viability, analysts at JPMorgan maintained optimism about shares o...
Silvergate faces bankruptcy concerns amid capital flight
Crypto bank Silvergate may halt operations after it issued a warning last week stating it could be short of capital. Silvergate deposits drop by 42% Silvergate Capital Corp on Jan. 17 announced a stee...
BCB Group Speeding Plans To Fill Space Left Out by Struggling Silvergate
27 seconds ago | 2 mins read Bitcoin News BCB Group is speeding up plans to offer U.S. dollar capabilities. According to the CEO, BLINC is superior to SEN since it supports several currencies. To assi...
Block.One founder Brendan Blumer lost over $70M on Silvergate
By November 16, EOS and Block.One founder Brendan Blumer had spent over $90 million to buy 9.27% of Silvergate stock. Since then, the crypto-friendly bank has collapsed by over 80% — Blumer has person...
Crypto Banking Firm BCB Readies U.S. Dollar Payments to Plug Silvergate Gap
The key differences between BLINC and SEN is that the former is multicurrency and isn’t tied to a single credit institution, such as a Silvergate or Signature Bank, Landsberg-Sadie said. It was not de...
Dormant Ethereum Whale Moves Millions Amid Silvergate Bank Controversy – Cryptopolitan
The crypto world has been abuzz with news of an ancient Ethereum wallet that has been dormant for more than five years. The wallet suddenly shifted 10,200 ETH tokens, worth approximately $30 million, ...
Silvergate Drama Could Push BTC’s Price Down to $19.5K Level
Santiment tweeted that BTC’s recent price drop was likely caused by Silvergate’s share price plummeting. Many crypto businesses have terminated their relationship with the bank due to its share price ...
Dormant Wallet Shifts 10.2K ETH Amid Silvergate Debacle; Ethereum Price Dump Ahead?
Ethereum Price News: Ethereum, the world’s second largest crypto, is trading under immense selling pressure due to the increased volatility due to the Silvergate Debacle. Investors look hesitant to re...
Bitcoin Is Stuck Between Silvergate and China
Join the most important conversation in crypto and web3! Secure your seat today Good morning. Here’s what’s happening: Prices: Bitcoin had a flat weekend as the market continued to digest Silvergate, ...
Fears over Silvergate, $8B hole at FTX, Binance’s numbers sought
Top Stories This Week Silvergate stock plunges after delayed filing raises doubts over future Silvergate made headlines this week after postponing the filing of its annual 10-K financial report, raisi...
Silvergate concerns, Binance pursues growth amid FUD, Ethereum Shanghai update delayed
Over the past week, the crypto scene was proliferated with apprehensions as investors raised concerns regarding Silvergate’s financial stability amid signs of impending collapse. Similarly, Binance sa...
Silvergate closes exchange network, releases $9.9M to BlockFi
Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets’ payment network, claiming the termination is a “risk-based decision.“ The move comes after the bank’s stock fel...
Silvergate terminates crypto payments network as shares plunge to record low
Crypto bank Silvergate has discontinued its digital assets’ payment network because it is a “risk-based decision.” The announcement comes after the bank’s stock fell over 59% last week due to fears of...
Bitcoin BTC Price Is Stuck Between Silvergate and China
“It doesn’t look like the Silvergate issue is leading to broad contagion. And we may have seen most of the drop associated with that news already,” Matt Weller, Forex.com’s global head of resear...
Bybit Latest To Suspend USD Deposits Amid Silvergate Crisis
Bybit Crypto News: Top crypto exchange Bybit on Saturday said it suspended US Dollar deposits through bank transfer. The exchange cited service outages from its banking partner, although it did not na...
Bitcoin price would retest $25K without Silvergate saga — analysis
Bitcoin (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Bad news holds Bitcoin back Data from C...
Coinbase Dumps Silvergate And More
Coinbase was in the news this week for the launch of its new Layer 2 project, Base, and also for cutting ties with the Silvergate Bank. The latter’s collapse has already shown its effects on the marke...
Here’s what could happen next to crypto-friendly bank Silvergate Capital
Once a crucial banking partner for the crypto firms, Silvergate Capital (SI), is now on the cusp of failure. The La Jolla, California-based company said Friday evening that it’s suspending its S...
Silvergate Crypto Payments Suspended After Suffering $1 Billion Loss
Silvergate Capital has pulled the plug on its Silvergate Exchange Network (SEN) after the bank specializing in digital assets voiced questions about its viability. SEN, the bank’s platform for crypto ...
Struggling Silvergate Announces Closing of Crypto Payment Network
11 hours ago | 2 mins read Bitcoin News The crypto bank’s shares dropped by 59% in the previous five days. Silvergate delayed the submission of its annual 10K financial report this week. On March 3, S...
Silvergate to return $9.85M deposit to BlockFi
Ad Silvergate Bank has been ordered to return $9.85 million to BlockFi as part of the latter firm’s ongoing bankruptcy proceedings, according to a March 3 filing. BlockFi will see $9.85 million return...
Silvergate short seller predicts crypto bank’s demise within a week
Marc Cohodes spent part of his Friday afternoon playing the conquering victor. The veteran short seller posted pictures of a seemingly deserted Silvergate office on Twitter, while telling The Bl...
Silvergate Bank Shutters SEN Network to Reduce Risk
Silvergate Capital has shuttered its Silvergate Exchange Network (SEN) as a “risk-based” decision following a second downgrade by rating agency Moody’s. The firm added that its deposit services remain...
Silvergate downgraded to underperform at Wedbush on prospects for liquidation after its shuts down its exchange network
Silvergate Capital Corp. SI, +0.87% stock fell 9.7% in premarket trades Monday after the company announced it’s shutting down its crypto currency payments network called the Silvergate Exchange Networ...