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On Tuesday, Silvergate Bank, a crypto-fiat gateway network designed for financial institutions, announced its results for the first quarter of 2022. During this period, its revenue and net income grew by 93% and 94% year-over-year, respectively, to $59.9 million and $24.7 million. The company is most notable for its Silvergate
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Crypto-focussed Silvergate Bank recorded net income of $27.4 million in Q1 2022, more than doubling its income of $12.7 million for the corresponding quarter a year earlier. Source
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The term loan from Silvergate Bank can also be used for general corporate purposes. Source
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Silvergate Capital (SI) offers investors an alternative way to gain exposure to the growth of the cryptocurrency ecosystem without the need to actually own a digital asset, Bank of America said in a report initiating coverage of the stock with a buy rating and a $200 price target, implying a
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Speaking with CoinDesk, Rettig shared her interest in the two companies working together. “I think there will be lots of opportunities for Silvergate as a partner and a collaborator, as we from the Web 3 side, and they from the banking side, continue to bring crypto to institutions and traditional
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Silvergate Capital (SI) is still planning on a full 2022 launch of its stablecoin but will first focus on regulatory clearance, and then a pilot program, said Chief Strategy Officer Ben Reynolds, speaking at the Canaccord Genuity Digital Assets Symposium. Source
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Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin. Silvergate
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Under the asset purchase agreement, Silvergate paid $50 million in cash to Diem and also issued 1,221,217 of its class A shares. After much effort from Meta, Diem Association is now shutting down after Silvergate Bank (NYSE: SI) purchased the stablecoin project. On the 31st of January, Silvergate
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The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
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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 strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
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