Silvergate Capital stock tanks as company plans to wind down its crypto-friendly bank

📆 3/9/2023 2:02 AM
📰 MarketWatch

⏱ Reading Time:
11 sec. here
2 min. at publisher
📊 Quality Score:
News: 8%
Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Silvergate Capital Corp. shares plunged 30% in after-hours trading Wednesday to a record low, after the company said it intended to wind down operations and...

Silvergate Capital Corp. SI shares plunged more than 30% in after-hours trading Wednesday after the company said it intended to wind down operations and voluntarily liquidate its subsidiary Silvergate Bank, a crypto-friendly lender.The La Jolla,... Silvergate Capital Corp. SI shares plunged more than 30% in after-hours trading Wednesday after the company said it intended to wind down operations and voluntarily liquidate its subsidiary Silvergate Bank, a crypto-friendly lender.

The company is considering the best way to resolve claims and preserve the residual value of its assets, Silvergate Capital said. All of the company’s other deposit-related services remain operational, it said.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Silvergate Capital shares tank after company announces plan to wind down bankSilvergate Capital Corp. shares plunged 30% in after-hours trading Wednesday after the company said it intended to wind down operations and voluntarily...
Source: MarketWatch - 🏆 3. / 97 Read more »