Bitcoin tumbles, as Silvergate Bank’s collapse highlights the biggest threat to U.S. crypto industry

The latest Distributed Ledger column from MarketWatch: a weekly look at the most important moves and news in crypto.

• 2023-03-10
• Silvergate Capital Signature Bank Matt Hougan MarketWatch digital assets Bitwise’s Hougan Silvergate crypto market

Bitcoin falls towards $20,000 as Silvergate Bank heads to liquidation

Bitcoin tumbled Thursday to the lowest level since mid-Janurary after Silvergate Capital Corp. said Wednesday it intended to wind down operations and voluntarily liquidate its subsidiary Silvergate Bank, a crypto-friendly lender.

• 2023-03-10
• Silvergate Capital

Bitcoin Is Falling. Its Early 2023 Rally Could Be Just ‘A Blip in a Bear Market.’

The implosion of Silvergate Bank and widespread worries over higher interest rates are driving crypto prices lower and eroding gains from a big rally.

• 2023-03-09
• Silvergate Capital Alex Kuptsikevich Bitcoin

Crypto-friendly bank Silvergate to wind down after FTX blow-up

Silvergate Capital Corporation, the holding company of crypto-focused Silvergate Bank, announced Wednesday its intent to wind down operations and voluntarily liquidate the banking unit. The move came days after Silvergate shocked the industry with news that it was facing a financial crisis. The institution, which was one of the few banks that acted as an intermediary in the space of institutional crypto, is yet another victim of the "crypto winter" following the implosion of FTX, which used th

• 2023-03-09
• Silvergate Capital FTX Silvergate

Crypto bank Silvergate to close, return all deposits; becomes latest victim of 2022 crypto turmoil

Silvergate Capital said Wednesday it will cease operations and liquidate its bank unit.

• 2023-03-09
• Silvergate Capital regulatory developments Bank operations

Crypto Bank Silvergate Says It Will Shut Down

Crypto bank Silvergate Capital said it will wind down operations and liquidate, sending shares tumbling.

• 2023-03-09
• Silvergate Capital

Crypto Bank Silvergate to Shut Down, Repay Deposits

The crypto-market rout sparked a run that forced it to sell assets at a steep loss to cover withdrawals.

• 2023-03-09
• Silvergate Capital Silvergate Silvergate Exchange Network

Silvergate Capital stock tanks as company plans to wind down its crypto-friendly bank

Silvergate Capital Corp. shares plunged 30% in after-hours trading Wednesday to a record low, after the company said it intended to wind down operations and voluntarily liquidate its subsidiary Silvergate Bank, a crypto-friendly lender.

• 2023-03-09
• Silvergate Capital

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.

• 2023-03-09
• Silvergate Capital quarterly earnings results Silvergate

'Crypto Friendly' Bank Silvergate to Wind Down Operations

Citing regulatory headwinds and the bear market, Silvergate Capital announced it is shuttering Silvergate Bank.

• 2023-03-09
• Silvergate Capital The Bank Silvergate Exchange Network regulatory developments Silvergate bank regulators