Voluntary liquidation

Silvergate Bank is being voluntarily liquidated after struggling since the FTX scandal, its holding company announced.

Increased scrutiny

Silvergate Bank is winding down its operations due to recent industry and regulatory developments, including increased scrutiny.

FTX collapse impact

Silvergate Bank faced significant losses due to the FTX collapse and customer withdrawals, resulting in a net loss of $948.7 million in 2022.

Silvergate in turmoil

Silvergate's financial crisis deepened when it sold assets at a loss and shut down its payments network.

Crypto's impact

Silvergate's collapse due to overreliance on cryptocurrencies will draw scrutiny on crypto's impact on traditional finance, warns Senator Sherrod Brown.