- Silvergate, a San Diego-based bank, is winding down operations following a run on deposits.
- The cryptocurrency crash has seen its biggest client, FTX, collapse.
- Silvergate was suggesting that the addressable market for deposits related to digital currencies could be $40bn.
- Its average deposits peaked at close to $15bn in early 2022.
Silvergate: crypto-friendly bank’s failure is led by customers
The demise of the San Diego-based bank leaves crypto start-ups in a bind
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