Silvergate Bank Is Liquidating in Blow to Crypto

Silvergate Bank, an important player in the world of cryptocurrencies, plans to wind down operations and liquidate, its holding company said Wednesday afternoon.

The holding company,


Silvergate Capital


(ticker: SI), said in a news release Wednesday afternoon that its liquidation plan includes the full repayment of all deposits and that most deposit-related services will remain available during the process of shutting down.