Silvergate Capital plans to wind down operations and voluntarily liquidate Silvergate Bank, including “full repayment of all deposits”; SI drops 40%+ to ~$5
- Silvergate Capital Corporation said it will wind down operations and voluntarily liquidate Silvergate Bank in accordance with applicable regulatory processes.
Filings: Block.One and its CEO Brendan Blumer buy a 7.5% and 9.3% stake, respectively, in crypto bank Silvergate Capital, making Blumer its largest shareholder
Nelson Wang / CoinDesk :
Many cryptocurrency stocks have fallen sharply in 2022: Coinbase is down ~40% year-to-date, Marathon Digital is down ~30%, and Riot Blockchain is down ~30%
Coinbase is off 42% so far this year as trading volume sinks; Silvergate Capital, Marathon Digital and Riot Blockchain are down sharply as well Tweets: @noelleinmadrid , @paulvigna , and @smdiehl Twee...
Aptos, a Layer 1 blockchain built by ex-Meta employees who worked on Diem, raises $200M at a $1B+ valuation led by a16z
Facebook's audacious attempt at creating a crypto payments network met an unceremonious end earlier this year when Silvergate Capital acquired the Diem technology assets for $182 million.
Source: Meta-backed Diem Association is selling its technology to California bank Silvergate Capital, which serves crypto companies, for ~$200M
Diem Association is selling its technology to crypto-focused bank Silvergate Capital for $200 million — Facebook's ambitious effort to bring cryptocurrency to the masses has failed.