Crypto-Friendly Bank Silvergate Collapses by the Numbers

Crypto-focused lender and Bank Silvergate said this Wednesday, March 8, 2023, that it is winding down operations and will liquidate the bank after being financially pummeled by turmoil in digital assets. “The problems that faced Silvergate were primarily a result of less-than-adequate risk management, notably one of relying too much on volatile short-term deposits while lending or investing at a longer duration,” Weisberger said. “This is not like the collapse of FTX, where investors […]

Crypto-Friendly Bank Silvergate Collapses by the Numbers Read the Full Article »