Silvergate shares plunge as the crypto bank discloses an $8.1 billion drop in deposits

Silvergate shares plunge as the crypto bank discloses an $8.1 billion drop in deposits

Customers withdrew $8.1 billion in deposits from Silvergate during a “crisis of confidence” late last year, forcing the cryptocurrency-focused US bank to sell assets and stressing how the collapse of FTX reached the regulated financial sector. The California-based group’s disclosure on Thursday revealed that its deposits from digital asset clients shrank to $3.8 billion on …

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