Bitcoin (BTC) wobbled a bit early Thursday as crypto-friendly bank Silvergate Capital (SI) shed more than 50% of its value on worries it may not survive, but turned upward in afternoon trading and is now higher by 0.4% over the past 24 hours at $23,500.

California-based Silvergate said in a filing late Wednesday that ​​the impact of recent events – notably the FTX collapse and subsequent regulatory inquiries – raised questions about its ability to "continue as a going concern.” The news led to at least two sell-side downgrades and a wide range of crypto firms pulling their business from the lender. Shares were down 58% shortly before the close of Thursday trade.