Silvergate Cuts 40% Jobs, Writes Off Diem Asset Acquisition

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 2 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 63%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Crypto-focussed bank Silvergate has laid off 40% of its staff or around 200 employees as it also shelves plans of launching its own digital currency. By parikshitm899

The bank has also halted its plans to launch a digital currency and has written off the $196 million it spent to buy the technology and assets of Diem Association from Meta .Shares of Silvergate were down 23% at $16.

9 in pre-market trading.
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:

 /  🏆 291. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

parikshitm899 Thank god. The last thing anyone needs in crypto is a bank in the middle. kryptoclass

parikshitm899 I love how every reply to this is a bot spamming some crypto bullshit.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines