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What does Silvergate's shutdown mean for the crypto industry?

Cryptocurrency-friendly lender Silvergate Capital NYSE:SI is crumbling and that is “definitely not good for the crypto industry,” said Konstantin Shulga, CEO and co-founder of institutional crypto liquidity marketplace Finery Markets. Silvergate NYSE:SI, the bank that had ties to Sam Bankman-Fried’…

Bitcoin on track for ~10% weekly loss on Fed fears, end of Silvergate Bank

Bitcoin BITSTAMP:BTCUSD is on track to post ~9.7% weekly loss as risk sentiment was dented by Federal Reserve Chair Jerome Powell's testimonies that signaled a potentially longer tightening cycle as well as Silvergate Capital's NYSE:SI plans to wind down.In his testimonies at Capitol Hill, Powell s…

Crypto Biz: Silvergate shutting down, Alameda suing Grayscale

With the Bitcoin BINANCE:BTCUSD halving more than a year away, don’t expect crypto industry narratives to change anytime soon. Nay, crypto winter is still in full force, and the nasty headlines show no signs of abating. This week, Silvergate Bank’s parent company announced it would shut down and li…

What does the Silvergate collapse mean for crypto?

The collapse of crypto-friendly bank Silvergate will likley have a significant impact on the crypto ecosystem and its ties with the banking sector in the U.S. Earlier this week, the parent company of Silvergate Bank announced plans to wind down operations and liquidate the bank. The announcement ca…

Breaking: Bitcoin slips under $20K amid Biden budget, Silvergate collapse

Bitcoin BINANCE:BTCUSD briefly slipped below $20,000 for the first time in nearly two months, following the latest budget from United States President Joe Biden and the collapse of “crypto-bank” Silvergate.The price of BTC dipped to $19,945 on March 10 before recovering to hover just above $20,000…

Crypto industry braces for impact with Silvergate exit

The closure of Silvergate Bank is not a systematic risk for the United States banking system but could have a significant impact on the crypto markets, multiple sources told Cointelegraph. The consequences may include increasing banking concentration among a few partners and presenting challenges f…

Silvergate Capital Corporation will ‘voluntarily liquidate’ Silvergate Bank

The parent company of Silvergate Bank, known to many in the space as one of the major crypto banks, has announced plans to “wind down operations” and liquidate the bank.In a March 8 announcement, Silvergate Capital Corporation said the decision to shutter operations was “in light of recent industry…

Bitcoin set to end week 4% lower as Silvergate crash, Fed concerns erode sentiment

Bitcoin BITSTAMP:BTCUSD is set to end the week ~4% lower as Silvergate Capital's NYSE:SI viability warning fueled fears of a domino effect in the cryptocurrency market. Risk appetite was also hit by ongoing concerns over the Federal Reserve's policy path.The Federal Reserve will likely raise its po…

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