Silvergate Stock in Free Fall as Crypto Bank Faces Crisis

Silvergate Capital


an influential banker to the cryptocurrency industry, faces a financial crisis precipitated by the collapse of crypto exchange FTX, one of its customers. What happens next has important implications for digital asset markets and regulation.

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Silvergate


(ticker: SI) plunged 46% in U.S. premarket trading on Thursday after the group said in a filing with the U.S. Securities and Exchange Commission (SEC) late Wednesday that it would not be able to submit its annual 10-K report in time.