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SI / Silvergate Capital tanks on sharp decline in crypto-related deposits in 4Q

Silvergate Capital Corporation shares have tumbled more than 45% this morning after it reported a sharp drop in crypto-related deposits during the fourth quarter amid the fallout from the collapse of crypto exchange FTX. The company, which provides financial infrastructure solutions to the digital asset industry, said total deposits from digital asset customers came in at $3.8 billion - an $8.1 billion decline from $11.9 billion at the end of the previous quarter. Read More

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Silvergate

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Tanks

Sharp

Decline

Crypto

Crypto related

Deposits

Stock

SI

Posted: Jan 5 2023, 10:33

Author Name: Proactive Investors

SI News

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