It's been a mixed bag today for crypto-related equities as U.S. regulators continued a clampdown that has hit both staking and stablecoins.
Silvergate fell 3.7% to $14.46 by 2 p.m. EST, according to Nasdaq data. The crypto-friendly bank has faced increasing scrutiny over the past few months following the collapse of FTX amid fears of increased regulatory oversight in the U.S. on banks that interact with cryptocurrency. SI was the most shorted stock on Wall Street, according to a recent report from MarketWatch.
Coinbase was trading around $56, down about 0.8% having pared earlier losses. Shares in the exchange traded down 22% last week as the Securities and Exchange Commission said the Kraken exchange agreed to pay a $30 million penalty and cease its staking products for U.S. customers.
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