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The parent company of the collapsed Silvergate Bank will be delisted from the New York Stock Exchange (NYSE) and 230 staff will be let go, Silvergate Capital has disclosed.In a May 11 filing to the Securities and Exchange Commission (SEC), Silvergate Capital said 230 staff will be “separated” starting May
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A California judge has combined three investor lawsuits against defunct crypto bank Silvergate Bank involving the bankrupt crypto exchange FTX.On April 19, United States District Judge Jacqueline Scott Corley of the Northern District of California ruled that the three lawsuits would be consolidated. Each accuses Silvergate of helping to facilitate
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Summary: MicroStrategy bolstered its Bitcoin bag with a 6,455 BTC purchase worth around 150 million at today’s prices.Former CEO Michael Saylor noted that the company also repaid its $205 million Bitcoin-collateralized loan at a 25% discount.Saylor’s digital asset firm now holds around 138,955 BTC worth approximately $4.14 billion. Digital asset powerhouse
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MicroStrategy has bought over 6,000 more Bitcoin after fully satisfying its sizable Silvergate debt obligations. MicroStrategy Incorporated (NASDAQ: MSTR) recently increased its Bitcoin (BTC) holdings following a recent Silvergate Bank (NYSE: SI) loan repayment. According to reports, the BTC-loving business intelligence firm has bought an additional 6,455 Bitcoin for $150 million.
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The company in March 2022 had borrowed $205 million from Silvergate Bank. Source
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MicroStrategy, a business intelligence firm and a major Bitcoin (BTC) investor, is acquiring more BTC amid the recent cryptocurrency market recovery.MicroStrategy co-founder and former CEO Michael Saylor took to Twitter on March 27 to announce that the firm has repaid its $205 million loan to Silvergate.Citing a form 8-K filing
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Major cryptocurrency exchange Kraken is experiencing difficulties with the withdrawal and deposit channel related to the automated clearing house (ACH) via Silvergate.Kraken has reportedly notified its users that it will be unable to support ACH deposits and withdrawals starting from March 27. According to multiple online reports by alleged Kraken
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“As of March 27, 2023, Kraken clients will no longer be able to use ACH deposits and withdrawals through Silvergate,” the company told CryptoX in an email. “We are working to make ACH funding options available through alternative funding providers as soon as possible and will communicate details with clients
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I think it’s safe to assume people want certainty. Companies want to know they'll be able to tap banking services. For that to happen, banks need to be comfortable serving crypto companies. And for that to happen, they probably need to know what factors led to Signature becoming a failed
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The collapse of Silicon Valley Bank (SVB) and Silvergate Capital, some of the most crypto-friendly banks in the industry, has forced many crypto firms to hold their breath. The loss of a significant banking partner for many companies means it will be even harder for them to comply with regulations
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