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Dubai News Club > Tech > Silvergate has collapsed
Tech

Silvergate has collapsed

Press Room
Last updated: 2023/03/08
Press Room
Published: March 8, 2023
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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…

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