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Silvergate

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02 Jun 23

US Fed to cease Silvergate Capital and Bank activity

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied California-based Silvergate Capital and Bank have been ordered to cease their operations by the board of governors of the Federal Reserve System and the Department of financial protection and innovation of California. The Federal Reserve Bank of San Francisco and the […]

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20 Apr 23

Judge combines Silvergate and FTX lawsuits over alleged ties

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A court in California has consolidated three investor claims against the collapsed cryptocurrency bank Silvergate Bank, including the failed cryptocurrency exchange FTX. The plaintiffs in the several cases seeking compensation for losses caused by the collapse of Silvergate have joined forces. US district […]

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22 Mar 23

Crypto firms turn to Swiss banks following Signature, Silvergate collapse

The collapse of Signature Bank and Silvergate Bank, two of the most crypto-friendly lenders in the U.S., has left many cryptocurrency firms in a state of uncertainty and desperation. As regulators crack down on banking institutions dealing with digital assets, in what industry insiders such as Caitlin Long describe as “Operation Choke Point 2.0,” these […]

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12 Mar 23

Tron founder speaks out amidst Silicon Valley Bank and Silvergate troubles

On Mar. 12, H.E. Justin Sun, the founding member of the TRON ecosystem and the global advisor at Huobi, a crypto exchange, posted a thread on Twitter highlighting the “potential harm” prevalent in the financial sector. He explicitly refers to current debacle in the financial markets following the collapse of Silicon Valley Bank (SVB) last week. On […]

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09 Mar 23

Silvergate to wind down operations and liquidate the bank

Amid the crisis surrounding Silvergate, the parent company of Silvergate Bank, Silvergate Capital Corporation, has revealed plans to shut down operations and “voluntarily liquidate” the bank. The crypto-friendly bank earlier ended its crypto payments network. In a press release on March 8, 2023, Silvergate said it intends to cease operations and liquidate its bank, stating […]

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08 Mar 23

Silvergate turns to US congress agency for help

Silvergate Capital is reportedly holding talks with the US Federal Deposit Insurance Commission (FDIC) to get ideas on remaining afloat as its financial woes worsen. Silvergate Capital, one of the numerous victims of the disgraced Sam Bankman-Fried’s FTX exchange collapse, recently received officials of the FDIC at its California office to deliberate on ways the […]

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07 Mar 23

Biden administration is all eyes on the Silvergate saga

According to a White House representative, Joe Biden’s administration is “informed of the issue” at Silvergate. As the situation develops, it will continue to follow news on the problematic bank. On March 6, at a press conference, White House’s spokesperson Karine Jean-Pierre said that she would not be commenting directly on Silvergate but that the […]

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03 Mar 23

MicroStrategy unveils minimal Silvergate exposure

Business intelligence outfit MicroStrategy has confirmed a loan from Silvergate but says the tenure is still a few years away. The company added that it is not worried about Silvergate’s current financial status and will not be looking to accelerate the loan. MicroStrategy secured a $205 million loan from Silvergate via the former’s MicroStrategy subsidiary. […]

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02 Mar 23

Silvergate shares nosedive 47% amid annual report delay

California-based crypto-friendly company Silvergate Capital will delay its annual financial report filing with the US Securities and Exchange Commission (SEC) while hinting that it would come under more regulatory scrutiny from banking regulators and US authorities. In a filing on March 1, Silvergate revealed that the company would not be able to file the annual […]

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