Silvergate Capital Corp. shares plunged 30% in after-hours trading Wednesday after the company said it intended to wind down operations and voluntarily...
Silvergate Capital Corp. SI, -5.76% shares plunged 30% in after-hours trading Wednesday after the company said it intended to wind down operations and voluntarily liquidate its subsidiary Silvergate Bank, a crypto-friendly lender. The liquidation plan includes full repayment of all deposits, according to Silvergate.
The company is considering the best way to resolve claims and preserve the residual value of its assets, it said. Silvergate Capital’s all other deposit-related services remain operational, according to the company. The company has hired Centerview Partners as financial advisor and Cravath, Swaine & Moore LLP as legal advisor, it said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Silvergate shutting down operations and liquidating bankSilvergate Capital announced on Wednesday that it will wind down operations and liquidate Silvergate Bank.
Baca lebih lajut »
Silvergate in talks with FDIC officials on ways to salvage bank - Bloomberg NewsU.S. federal officials have been discussing with Silvergate Capital Corp's management to avoid a shutdown, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Baca lebih lajut »
Crypto prices flat, Silvergate declines ahead of Powell testimonyCrypto markets traded relatively flat as the market prepares for Federal Reserve Chair Powell's Congressional testimony on Tuesday.
Baca lebih lajut »
Bitcoin Continues Trading Sideways at $22.4K as Silvergate Concerns MountBitcoin was trading above $22,400 Monday afternoon and squarely in the narrow range it’s occupied since last Thursday even as Silvergate fallout has widened. _jocelynyang_ reports
Baca lebih lajut »
Silvergate’s Struggles Will Likely Boost Stablecoins’ Role in Crypto Trading: KaikoCrypto investors will likely turn to stablecoins to deposit money on crypto exchanges instead of using bank rails after Silvergate’s platform closure, Kaiko says. This will focus risk on stablecoin issuers’ ties to US banking. sndr_krisztian reports
Baca lebih lajut »