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Brendan Blumer, CEO of Block.one, which developed the EOSIO blockchain platform and EOS (EOS) coin, has purchased a stake in Silvergate Capital, the holding company for Silvergate Bank, a crypto-fiat gateway network designed for financial institutions, according to an SEC filing. That document, dated Nov. 23, listed Nov. 16 as
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"We believe Silvergate’s current equity prices do not accurately reflect their strong balance sheet, their strategic positioning, or their market-defiant growth trajectory, and therefore offers a unique investment opportunity. We are excited to be a new passive shareholder," the company wrote. Original Source
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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
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On Oct. 18, Silvergate Capital, a crypto-fiat gateway network designed for financial institutions, announced its financial results for Q3 2022.The bank, known for services such as processing consumer fiat deposits to cryptocurrency exchanges, saw the transfer volume on the Silvergate Exchange Network plummet close to $50 billion compared to Q3
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“We're certainly disappointed that it looks like we're gonna miss our goal of launching it this year,” Lane said on Silvergate’s earnings conference call Tuesday. The company, Lane added, is working diligently to build its operational and regulatory compliance “muscle” to ensure a smooth launch. Source
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Wells Fargo skips the neutral rating, downgrading Silvergate to underweight from overweight. Source
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Shares of Silvergate are down 42% this year, though they’ve jumped 33% over the last week. The VanEck Digital Transformation ETF (DAPP), which holds a basket of various crypto stocks including exchange Coinbase (COIN) and miner Marathon Digital (MARA), has fallen 67% this year, but risen 15% over the last
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Companies such as JPMorgan (JPM), PayPal (PYPL), Block (SQ), Tesla (TSLA), Mass Mutual (MCI), CME Group (CME), ICE (ICE), Fidelity and Northern Trust (NTRS) have all began to embrace the concept of crypto, and some pension and mutual funds are allocating capital to the asset class, it added. Original Source
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Silvergate Capital on Tuesday reported better-than-expected Q1 earnings this morning and shares are up nearly 12%. Original Source
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