{"id":84108,"date":"2023-03-09T00:15:56","date_gmt":"2023-03-09T05:15:56","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=84108"},"modified":"2023-03-08T21:40:25","modified_gmt":"2023-03-09T02:40:25","slug":"crypto-focused-bank-silvergate-is-shutting-operations-and-liquidating-after-market-meltdown","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2023\/crypto-focused-bank-silvergate-is-shutting-operations-and-liquidating-after-market-meltdown.html","title":{"rendered":"Crypto-focused bank Silvergate is shutting operations and liquidating after market meltdown"},"content":{"rendered":"\n<p>(CNBC) <a href=\"https:\/\/www.cnbc.com\/quotes\/SI'A\/\">Silvergate Capital<\/a>, a central lender to the crypto industry, <a rel=\"noreferrer noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20230308005795\/en\/\" target=\"_blank\">said on Wednesday<\/a> that it\u2019s winding down operations and liquidating its bank. The stock plunged more than 36% in after-hours trading. Silvergate has served as one of the two main banks for crypto companies, along with New York-based <a href=\"https:\/\/www.cnbc.com\/quotes\/SBNY\/\">Signature Bank<\/a>. Silvergate has just over $11 billion in assets, compared with over $114 billion at Signature. Bankrupt crypto exchange FTX was a major Silvergate customer.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2023\/03\/08\/silvergate-shutting-down-operations-and-liquidating-bank.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNBC) Silvergate Capital, a central lender to the crypto industry, said on Wednesday that it\u2019s winding down operations and liquidating its bank. The stock plunged more than 36% in after-hours trading. Silvergate has served as one of the two main [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-84108","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/84108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=84108"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/84108\/revisions"}],"predecessor-version":[{"id":84109,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/84108\/revisions\/84109"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=84108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=84108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=84108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}