Report: Confirmation of Silvergate's $8 Billion Deposit Plunge Sees Stock Price Drop by More Than 40%
As a consequence of the more than $8 billion drop in crypto-related deposits, Silvergate said it would attempt to rein on losses by cutting its workforce by 40%. As explained by a Reuters, Silvergate’s preliminary earnings report appeared to blame crypto exchange FTX’s collapse for the drop in customer deposits from $11.9 billion in September to $3.8 billion by the end of Q4.
Nexo Nexo will rock the next bull run. Nexo is still in an early stage.
Good to see Silvergate CEO upholding important regulations, aka KYC/AML. DeFi is transforming our financial freedom and this reminds us of the importance of staying compliant. Crypto BTC
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you should get Bitcoin finiliar to feature Bitcoin price on your website. It will look amazing.
Totally agree, but I only use ChiefraFba for signals and analysis
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$3.9 billion lost in the cryptocurrency market in 2022: ReportThe report also found that decentralized finance (DeFi) was the most targeted sector, suffering 80.5% in losses, compared to centralized finance (CeFi) which suffered a loss of 19.5%.
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