2023-05-23
Reuters
1 related
Sources: in 2020 and 2021, Binance commingled customer funds with revenue; a source says the sums ran into billions of dollars in Silvergate-held accounts
The world's largest cryptocurrency exchange, Binance, commingled customer funds with company revenue in 2020 and 2021 …
2023-03-13
Bloomberg
5 related
The closure of SVB, Silvergate, Silvergate Exchange Network, and Signature adds stress to a troubled crypto industry; fiat conversion costs may rise by 20%-40%
The digital-asset market is coming off of a turbulent year featuring a number of high-profile blowups.
2023-01-22
Wall Street Journal
2 related
Filings: Signature Bank borrowed nearly $10B in Q4 from Federal Home Loan Banks, a system originally designed for mortgage lending; Silvergate borrowed $3.6B+
Signature and Silvergate turn to government-chartered lenders after customer withdrawals surge
2023-01-17
Reuters
11 related
Crypto prices are recovering in January so far: market above $1T, bitcoin up 26%, including 22% in the past week, to $20K+, ether up 29%, and meme coins spiking
After one of the least volatile months in history, Bitcoin has seen an explosive rally back above $21k. Sidhartha Shukla / Bloomberg : Crypto Mining Stocks Eye Best Month in a Year Atop Bitcoin Jump A...
2023-01-05
Wall Street Journal
8 related
US bank Silvergate, which caters to crypto, reports liquidating debt to cover $8.1B withdrawals as FTX collapsed and laying off 40% of its staff; SI falls 40%+
Bank sold assets at a loss to cover withdrawals and cut 40% of its staff but remains committed to crypto
2018-05-24
Wall Street Journal
Small US banks like Silvergate are capitalizing on the opportunity to do business with cryptocurrency-related firms, which are largely shunned by big banks
Christina Rexrode / Wall Street Journal :
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