Crypto-friendly lender Silvergate collapses | CNN Business

“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,” it said in a statement Wednesday. The bank’s plan includes “full repayment of all deposits,” it said.

The announcement comes roughly a week after Silvergate delayed its annual filing with the Securities and Exchange Commission, warning that it may go out of business. That news prompted the bank’s biggest crypto-industry clients, including Coinbase and Paxos, to pull their deposits. This story is developing.

Another ponzi scheme participant bites the dust

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Impact of the Silvergate collapse on crypto — Watch The Market Report liveThe Market Report with Cointelegraph is live! Tune in to watch Cointelegraph’s resident experts discuss the impact of the Silvergate collapse on crypto. I wish the whales would hurry the F up and tank the bitcoin price. A lot of us are waiting to buy up some of that weak hander's corn
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