Silvergate shares tumble after company says it’s shutting down crypto bank

Silvergate shares fell sharply after news the crypto-friendly bank would be winding down operations. The company says it will issue full repayments of all customer deposits. Silvergate has been in trouble since late 2022 following the collapse of crypto exchange FTX.

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Silvergate Bank Suffers Stock Loss, Mass Crypto Exits As Bankruptcy Looms

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Crypto bank Silvergate suspends preferred stock dividend

Crypto-friendly bank Silvergate announced its suspended payment of dividends on its series A preferred stock. The company’s shares fell more than 11% pre-market after the announcement. Silvergate reported a $1 billion loss in the fourth quarter and also cut its staff by 20% amid the crypto bear market and impact of FTX collapse.

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Few Banks Will Touch Crypto Firms, but Silvergate Wants to Touch Bitcoin Itself

Silvergate made its name providing fiat banking services for crypto businesses. Now, CEO Alan Lane wants the bank to handle digital assets themselves.

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‘Bitcoin Bank’ Silvergate Says Crypto Client Base Climbed 122% in 2018

Silvergate Bank, which bills itself as the “leading provider of innovative financial infrastructure solutions and services to participants in the digital currency industry,” has disclosed in a preliminary prospectus filed with the U.

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Crypto-Friendly Silvergate Bank On-boards 59 New Crypto Clients

Silvergate Bank has for the first time named a few of her clients in an SEC filing. The bank had remained supportive of crypto-related businesses at a time when other financial institutions turned their backs.

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Bitcoin-Friendly US Bank Silvergate Now Serves Over 500 Crypto Companies

Silvergate Bank, headquartered in San Diego as a California state-chartered bank, started its cryptocurrency-related business in 2013. Now over 500 companies from the digital assets industry are using its services as one of the very few “bitcoin-friendly” banks based in the U.

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A San Diego Bank Sees Upsurge in Crypto Customers, Serving 542 Business

Figures for the end of 2018 show that San Diego-based Silvergate Bank saw an upsurge in digital currency customers. Previously, the institution provided banking services for 244 crypto businesses.

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Silvergate Bank Onboarded 59 New Crypto Customers in Q4 2018

Major U.S.-based bank Silvergate signed on 59 new cryptocurrency customers in the fourth quarter of 2018

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Silvergate Bank Adds 59 Crypto Clients, But Deposits Down $123 Million

Silvergate Bank added 59 crypto clients in the fourth quarter, but its deposits from the industry shrank by $123 million.

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Silvergate Exchange Network (SEN) now available for USDC

We’re excited to announce that Silvergate Exchange Network (SEN) is now supported for US Dollar Coin (USDC) issuance and redemption. SEN delivers real-time USD settlement and is used daily by leading crypto exchanges and traders.

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Silvergate Bank CEO Recounts the Path from First Buying Bitcoin to Leader of Crypto Startup Support

Alan Lane started his relationship with Bitcoin in 2013. The Silvergate Bank CEO made his first purchase of Bitcoin that year, preceding the addition of the first crypto exchange as a client to the small bank.

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How Silvergate Became the Leading Bank for Crypto Startups

Silvergate Bank CEO Alan Lane shared his approach to serving the cryptocurrency industry with bankers at the Block FS conference.

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Silvergate Bank For Cryptocurrency Customers Pursues IPO As Bold Move Shows Market Confidence

With Over 480 Crypto Customers, Silvergate Bank Pursues IPO Cryptocurrency used to be an elite investment opportunity, starting with a successful platform that already sells tokens. However, as the industry has gravitated more towards mainstream use, banks have begun to get involved as well.

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US Bank That Serves 483 Cryptocurrency Companies Is Seeking an IPO

Silvergate Bank, headquartered in San Diego as a California state-chartered bank, started its cryptocurrency-related business in 2013. Now its parent company wants to go public, revealing that 483 companies from the crypto industry are using the services of the “bitcoin-friendly” bank.

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Serving almost 500 Crypto Startups, Silvergate Bank Targets to Raise $50M via an IPO

CoinSpeaker Serving almost 500 Crypto Startups, Silvergate Bank Targets to Raise $50M via an IPO One of the well-known crypto-friendly banks, Silvergate, has recently filed the documents go public.

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Nearly 500 Crypto Startups Bank at Silvergate, IPO Filing Reveals

The California-based operator of Silvergate Bank has detailed its relationships with the cryptocurrency industry as part of its IPO filing with the SEC.

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