Silvergate

Silvergate: From Small Local Lender to Bank Behind the Crypto Boom

Silvergate: From Small Local Lender to Bank Behind the Crypto Boom

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“The life of a crypto business can be split between pre-Silvergate and post-Silvergate,” Sam Bankman-Fried wrote in a quote posted on the San Diego bank website he used to transfer client funds. to its digital asset exchange FTX. “It’s hard to overstate how much this has revolutionized banking for blockchain businesses.” Silvergate was an unlikely …

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What’s going on with Silvergate, the bank that props up the U.S. crypto market?

What’s going on with Silvergate, the bank that backs the US crypto market?

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Earlier this week, cryptocurrency bank Silvergate announced that its exposure to FTX was limited to its deposits. The US bank, which serves the majority of the crypto industry in the country, said it has no loans or investments in FTX. The bank’s statements succeeded in calming the market, with its stock showing a slight recovery …

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