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The Latest Breaking News from Silvergate

Crypto bank Silvergate collapses; HS2 delayed; US jobless claims jump – as it happened

Rolling coverage of the latest economic and financial news, as crypto turmoil leads to an “‘orderly wind down’ and ‘voluntary liquidation’ of Silvergate bank

The Guardian - UK

Silvergate Capital To Shut Down, Liquidate Crypto-Friendly Silvergate Bank

Silvergate Capital To Shut Down, Liquidate Crypto-Friendly Silvergate Bank

SI stock tanked after hours Wednesday after Silvergate Capital announced plans to shut down and liquidate crypto lender Silvergate Bank.

Investors Business Daily

Dow Jones Futures Fall With Market Rally Stuck At Key Levels; Tesla Extends Slide

Dow Jones Futures Fall With Market Rally Stuck At Key Levels; Tesla Extends Slide

The market rally is right at critical levels, though Nvidia and chips look strong Tesla extended Investor Day losses. Crypto bank Silvergate Capital is shutting down.

Investors Business Daily

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Top crypto bank collapses as Silvergate announces plans to wind down operations

The volatile sector's banking options are dwindling.

Crypto’s favorite bank is on the brink. What happens if Silvergate fails?

Silvergate's collapse is a cautionary tale to the industry—and to regulators.

Bitcoin falls 5% overnight to $22,300—after touching $25,000 last month—as Silvergate troubles weigh on price

The cryptocurrency briefly broke $25,000 just last month.

Binance Investigated For Money Laundering, Criminal Activity By Senators; Bitcoin Retreats

Bitcoin price retreated after a group of U.S. senators launched an investigation into Binance for alleged money laundering, criminal activity.

Investors Business Daily

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Silvergate Stock Dives 55% As Financial Woes Delay Earnings, Scare Crypto Firms

Silvergate Stock Dives 55% As Financial Woes Delay Earnings, Scare Crypto Firms

Silvergate Capital stock halved on Thursday as financial woes forced the crypto lender to delay annual results, crypto firms jump ship.

Investors Business Daily

Dow Jones Rallies As Tesla Dives, Leads 'Race To The Bottom'; Warren Buffett Stock Craters

Dow Jones Rallies As Tesla Dives, Leads 'Race To The Bottom'; Warren Buffett Stock Craters

The Dow Jones rallied. Tesla stock took a dive after its investors day event. A Warren Buffett stock fell while Silvergate stock sunk.

Investors Business Daily

Near 50% fall in Silvergate’s shares over FTX exposure prompts survival doubts

Near 50% fall in Silvergate’s shares over FTX exposure prompts survival doubts

Stock price of crypto-focused US bank plummeted in Thursday trading and it is assessing its ability to keep going

The Guardian - UK

Coinbase ends relationship with crypto bank Silvergate

Coinbase ends relationship with crypto bank Silvergate

After delaying its annual report, Silvergate’s share price opened more than 40% lower on Thursday.

Binance suspends bank transfers of U.S. dollars

Binance suspends bank transfers of U.S. dollars

The world’s biggest crypto exchange says only 0.01% of customers will be affected.

DOJ questions Silvergate for dealings with FTX, Alameda

DOJ questions Silvergate for dealings with FTX, Alameda

The fraud probe follows the crypto-focused bank’s announcement two weeks ago of a net loss of $1 billion in the fourth quarter of 2022.

The banking industry is turning its back on crypto, adding insult to injury for the reeling sector

The banking industry is turning its back on crypto, adding insult to injury for the reeling sector

Signature is the latest crypto bank to pull back its services.

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Crypto bank Silvergate reports $1 billion loss

The company's share price has plummeted following the collapse of its client, FTX.

The Guardian - UK

Silvergate forced to cover $8bn worth of crypto-related withdrawals

The US bank was forced to sell $5.2bn worth of assets for cash and booked a loss of $718m on those sales

Investors Business Daily

Silvergate Capital Dives On Crypto Exodus, Fed Seizures

Silvergate Capital reported more than $8 billion in crypto-asset withdrawals in the fourth quarter; Feds move to seize assets.

Tribune News Service

Silvergate Capital faces questions from lawmakers amid FTX crypto exchange collapse

San Diego's Silvergate Capital made its name in recent years as one of a few traditional banks providing deposit, fund transfer, security and other services for the cryptocurrency trading market.

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FTX's implosion raise questions about Genesis, Crypto.com, and Silvergate

BlockFi is likely the just first of some big dominoes to fall in the wake of the FTX collapse. Here are some others to watch.

Tribune News Service

Stablecoin issuers seek bank licenses to reassure customers

WASHINGTON — Firms that issue or trade stablecoins are looking to secure banking licenses, largely as a signal to customers that the coins are safe as bank deposits.

Stablecoin issuers seek bank licenses to reassure customers - Roll Call

Firms that issue or trade stablecoins are looking to secure banking licenses, largely to signal that the coins are safe as bank deposits.

Financial Times

Facebook Libra: the inside story of how the company’s cryptocurrency dream died

It had the blue-chip partners, the tech and the right players. None of which could save it

This Cathie Wood Portfolio Company Is Buying The Tech Of Facebook's Diem As Latter Abandons The Crypto Project: WSJ

Meta Platforms Inc. (NASDAQ: FB) is winding down its Diem cryptocurrency project and selling its technology to cryptocurrency-focused bank Silvergate Capital Corp. (NYSE: SI) for about $200 million, the Wall

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