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Silvergate to the pearly gates

Silvergate Capital Corporation has announced its intent to wind down operations and voluntarily liquidate its bank. The stock is tanking in after-hours trading and shares of competitor Signature Bank were down 4% at pixel time.

1 min read
  • Silvergate Capital Corporation has announced its intent to wind down operations and voluntarily liquidate its bank in an orderly manner.
  • The bank's wind down and liquidation plan includes full repayment of all deposits.
  • Silvergate Bank has discontinued its Silvergate Exchange Network (SEN).
  • The stock is tanking in after-hours trading, down 36% to $3.12 per share.
  • Shares of competitor Signature Bank were down 4% at pixel time.
Silvergate to the pearly gates
One of crypto’s favourite banks is liquidating
Financial TimesAlexandra Scaggs

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