Shares of crypto-focused companies fell on Thursday after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX's implosion last year reverberates through the industry.
Silvergate's latest move adds to a list of high-profile collapses among crypto market players since last year. Shares of peer Signature Bank, which has been pivoting away from crypto since late last year, fell 8%.In its second mid-quarter update this month, Signature said digital assets accounted for just 18.5% of its total deposit balance.
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