As of March 9, Silvergate will halt operations and undergo liquidation.

Silvergate saw a 70% drop in deposits in Q4, followed by a 90% drop two days later, which coincided with the worst bond performance in over 200 years.

Silvergate Capital shares are down 44.6% pre-market.

The Signature Bank is currently 7% down pre-market and 9% down year-to-date.

(By James Van Straten)