Silvergate Capital to Cut Headcount as it Manages Liquidation of Crypto-Friendly Bank
Silvergate Capital has announced that it will be reducing its workforce significantly, leaving only a skeleton crew to manage the liquidation of its crypto-friendly bank. The company will be laying off 230 employees tomorrow, with additional layoffs to follow later in the year.
Signature Bank’s Real-Time Crypto Payments Network Still Online, for Now
Signature Bank’s payments network — used by cryptocurrency firms looking to exchange fiat currency in real time — is still online even after the lender was put into receivership.
Signature Bank Plummets in Share Price Pre-Market, After News of Silvergate Halting Operations
As of March 9, Silvergate will halt operations and undergo liquidation.
Crypto Bank Silvergate to Close, Return all Deposits; Becomes Latest Victim of 2022 Crypto Turmoil
Silvergate Capital, which provided lending services to scores of businesses in the cryptocurrency industry, said Wednesday it will cease operations and liquidate its bank unit. “In light of recent industry and regulatory developments, Silvergate believes that an orderly wind-down of Bank operations and a voluntary liquidation of the Bank is the best path forward,” Silvergate said in a press release. It said it will repay all deposits. (forkast)
Silvergate Bank to Wind Down Operations and Initiate Voluntary Liquidation
Silvergate has decided to discontinue its banking operations and focus on other areas of business.
Crypto Morning Briefing: Binance NFT Announces Integration With Polygon Network
Silvergate Capital Corporation Will ‘Voluntarily Liquidate’ Silvergate Bank; Gemini Denies Reports of Banking Relationship Ending With JPMorgan; Three Arrows Capital Founders Shake Up Crypto Industry with New Crypto Exchange After Acquiring CoinFLEX Assets; Binance Charity Donates $100,000 in Georgia to Empower Women through Web3 Education
Silvergate Capital Corporation Will ‘Voluntarily Liquidate’ Silvergate Bank
The parent company of Silvergate Bank, known to many in the space a major crypto bank, has announced plans to “wind down operations” and liquidate the bank.
Crypto Banking Firm BCB Readies U.S. Dollar Payments to Plug Silvergate Gap
BCB Group, a payments processor that links crypto companies to the banking system, is accelerating plans to add U.S. dollar capabilities to help fill the hole left by the recently shuttered Silvergate Exchange Network (SEN), CEO Oliver von Landsberg-Sadie said in an interview with CoinDesk.
Crypto Evening Briefing: Coinbase Cutting Ties With Silvergate Forces Crypto Hedge Fund To Find a New Bank
On March 3, a crypto hedge fund called Digital Asset Capital Management (DACM) with assets worth over $400 million announced they are looking for a new banking partner in Switzerland post Silvergate chaos.
Coinbase Cutting Ties With Silvergate Forces Crypto Hedge Fund To Find a New Bank
The popular fintech bank Silvergate Bank lost five crypto partners on March 2, owing to a slew of investigations and lawsuits against it.
