News from late Wednesday afternoon US time a couple of hours ago.
Its been a saga this ...
Crypto-friendly bank Silvergate delayed financial reporting, is analyzing "investigations"
Silvergate triggered yet another mini crypto sell-off
Crypto-focused bank Silvergate in talks with FDIC about how to keep the firm in business
- Silvergate Capital announced it will wind down operations and liquidate Silvergate Bank
- The stock had a renewed free fall
- "In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the Bank is the best path forward," the company said in a statement.
- All deposits will be fully repaid, according to a liquidation plan shared on Wednesday afternoon
- What is not clear is how the bank plans to resolve claims against its business.