Silvergate Bank, which had been a cornerstone in the crypto world, announced it’s closing and returning deposits. In a press release, the bank’s holding company, Silvergate Capital Corporation, said it made the decision to shut down “in light of recent industry and regulatory developments.”
It’s been clear for a while that the company was struggling along with some of its most high-profile clients like FTX and Genesis. In January, its earnings report revealed that it lost a billion…
