Silvergate Capital, a cryptocurrency-focused bank, has announced on Wednesday it has fully reimbursed all remaining deposit liabilities. This move follows the bank’s decision to voluntarily liquidate after suffering losses as a result of the sudden collapse of crypto exchange FTX. Investors withdrew more than $8 billion in deposits from Silvergate resulting in a $1 billion quarterly loss prior to liquidation. The crypto market in 2021 saw a bearish turn due to a variety of factors such as rising interest rates, institutional collapses, and worries in the market. Conditions have since stabilized, with much speculation on whether the U.S. Securities and Exchange Commission will approve a spot Bitcoin ETF. Prices of major tokens have regained profits lost during the slowdown, with a notable increase in Bitcoin's and Ether's prices in the past 24 hours.

While Silvergate’s liquidation plans appear to have had a successful outcome, investors should still be wary of any further developments in the crypto market and any action they take related to the company.



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