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Bitcoin steadies near lows hit after fall of Silvergate
- linkweb3
- 2023-03-09
- 2147
- Newsletter
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Summary:Bitcoin steadied on Thursday near its lowest since mid-February, after U.S. crypto-focused bank Silvergate said it would voluntarily liquidate, the latest in a series of high-profile crypto collapses triggered by the collapse of the FTX exchange. Silvergate Capital Corp said on Wednesday it planned to close and voluntarily liquidate, after warning last week that it was evaluating its ability to operate as a going concern. The California-based company, which was a key banking partner for crypto
Bitcoin steadied on Thursday near its lowest since mid-February, after U.S. crypto-focused bank Silvergate said it would voluntarily liquidate, the latest in a series of high-profile crypto collapses triggered by the collapse of the FTX exchange. Silvergate Capital Corp said on Wednesday it planned to close and voluntarily liquidate, after warning last week that it was evaluating its ability to operate as a going concern. The California-based company, which was a key banking partner for crypto businesses, had been hit by investors rushing to withdraw around $8 billion of deposits after the sudden bankruptcy of FTX last year.
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