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SI / Silvergate Capital posts $1 billion net loss and will ‘substantively reduce' its workforce, but stock gains

Shares of Silvergate Capital Corp. SI, -4.00% rallied 1.9% in premarket trading Tuesday, even after the cryptocurrency bank swung to a net loss of $1.0 billion, more than expected, citing a “transformational shift” in the digital asset industry due to significant over-leverage. The bank said it decided to “substantively reduce its workforce” to account for the “economic realities facing its business and the digital asset industry today. Read More

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Content Topics

Silvergate

Capital

Posts

Billion

Loss

Will

Substantively

substantively

Reduce

Workforce

Stock

SI

Posted: Jan 17 2023, 06:51

Author Name: Market Watch

SI News

By InvestorPlace
April 11, 2023

Even Daredevils Should Avoid Silvergate Capital (SI) Stock

Before you jump into a hasty trade with Silvergate Capital (NYSE: SI ) stock, think carefully and consider the risks involved. Silvergate Capital is a

By Zacks Investment Research
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Silvergate Capital Corporation (SI) Flat As Market Gains: What You Should Know

In the latest trading session, Silvergate Capital Corporation (SI) closed at $1.62, marking no change from the previous day.

By InvestorPlace
March 28, 2023

SI Stock Alert: Short Squeeze Hopes Drive Silvergate Higher

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By The Motley Fool
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Did MicroStrategy Find a Silver Lining in Silvergate's Meltdown?

MicroStrategy repaid its Silvergate loan early due to the bank's collapse, without prepayment fees and at a 21% discount. Silvergate investors sent th

By InvestorPlace
March 27, 2023

Is a Giant Short Squeeze Brewing in Silvergate (SI) Stock?

Although deeply embattled, crypto-friendly bank Silvergate Capital (NYSE: SI ) is managing to pop conspicuously higher against an otherwise soft opene

By Market Watch
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Microstrategy pays off $205 million Silvergate loan, buys $150 million worth of bitcoin: SEC filing

Macrostrategy, which is a wholly-owned subsidiary of software firm Microstrategy, has paid off a $205 million loan to Silvergate Bank, according to a

By The Motley Fool
March 27, 2023

Why Shares of Silvergate Capital Are Rising (Again) Today

A MicroStrategy subsidiary fully repaid a term loan that was collateralized by Bitcoin. Investors may view the news as positive for the bank's planned

By WSJ
March 27, 2023

Banks Step Up to Serve Crypto Firms After Signature, Silvergate Blowups

As crypto companies have scrambled to establish new bank relationships, industry executives say they have received a positive reception from some regi

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