Crypto bank Silvergate is winding down, becoming another domino in the FTX collapse

After nearly 10 years of serving the crypto industry, Silvergate Bank has been broken by the FTX collapse and its subsequent fallout. Citing “recent industry and regulatory developments,” the embattled bank announced March 8 it is winding down operations.

• 2023-03-09
• Silvergate Bank Silvergate Exchange Network regulatory developments banking services FTX

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

'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

Silvergate teeters as regulators circle and crypto firms cut ties

Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.

• 2023-03-08
• Silvergate Capital digital assets China Silvergate Exchange Network central bank digital currency crypto U.S. Securities and Exchange Commission David Hoffmann

Crypto stocks fall as Silvergate crisis deepens

The digital assets-focused bank said late on Friday that effective immediately it had made a "risk-based decision" to discontinue the Silvergate Exchange Network (SEN). Shares of the La Jolla, California-based bank were down more than 4% in premarket trading, while crypto lending peer Signature Bank fell 3%. Crypto exchange Coinbase Global and BTC mining machine maker Ebang International were both down about 1% each.

• 2023-03-06
• Silvergate Capital Silvergate Exchange Network Signature Bank premarket trading Coinbase Global

Crypto Banking Firm BCB Readies U.S. Dollar Payments to Plug Silvergate Gap

BCB Group CEO Oliver von Landsberg-Sadie said he hopes to have dollar fiat-to-crypto rails in place and ready to go live early in the second quarter.

• 2023-03-06
• BCB Silvergate Exchange Network Oliver von Landsberg-Sadie Silvergate Signature Bank SEN Financial Conduct Authority BLINC BCB Liquidity Interchange Network Consortium

Bybit suspends U.S. dollar bank transfers, possible link to Silvergate shuttering crypto banking network

Bybit suspended U.S. dollar deposits and withdrawals via wire and bank transfers due to “service outages from a partner.”

• 2023-03-06
• Silvergate Capital bank transfers bank transfer service outage Silvergate Exchange Network crypto exchange service outages Coinbase cutting ties Silvergate

Struggling Crypto Bank Silvergate Shuts Down Popular Platform

Silvergate has previously warned that its survival is not certain due to financial setbacks. Moody's Investors Service has downgraded its ratings.

• 2023-03-06
• Silvergate Capital Silvergate Exchange Network fiat currencies

Silvergate Closes SEN Platform Institutions Used to Move Money to Crypto Exchanges

Silvergate Bank announced Friday it was suspending its "Silvergate Exchange Network" (SEN) "effective immediately."

• 2023-03-04
• Silvergate Bank Silvergate Exchange Network