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

The latest:

  • 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.


BTC lower:

Bitcoin silvergate liquidation 09 March 2023