Silvergate has delayed its annual report with the Securities and Exchange Commission after reporting a $1 billion loss for fourth quarter and is now concerned about ability to operate.
The crypto bank reported a $1 billion loss for the fourth quarter as investors raced to withdraw deposits in the wake ofSilvergate sold additional debt securities in January and February 2023 and expects to record further losses.
Silvergate, one of the most influential banks in the digital asset industry, has drawn the ire of lawmakers in the United States over its dealings with FTX and Alameda. İstanbul, Turkey - February 19, 2018: Close up shot of Bitcoin, Litecoin and Ethereum memorial coins on a black background. Bitcoin, Litecoin and Ethereum are crypto currencies and worldwide payment systemCoinbase Global and Galaxy Digital on Thursday dropped Silvergate Capital Corp as their banking partner after the lender's latest filing raised questions about its ability to stay in business.
Stablecoin issuers Paxos and Circle, Cboe's digital asset exchange, crypto exchange Gemini and European crypto exchange Bitstamp also suspended their partnerships with Silvergate.
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