Signature Bank stock is down 11% in premarket trades as carnage from the announced wind-down of digital currency financial services company Silvergate...
Signature Bank SBNY, -1.47% stock is down 11% in premarket trades as carnage from the announced wind-down of digital currency financial services company Silvergate Capital Corp. SI, -5.76% impacted the company. The drop comes despite moves by Signature Bank to wind down its exposure to crypto amid healthy despots at the company.
As a component of the S&P 500, Signature Bank has a relatively diversified banking business but it also holds digital asset deposits. It’s been working to wind down that business in light of troubles in the crypto world overall. Meanwhile, Silvergate Capital continues its free-fall with its stock down 47% after it said it would wind down operations.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silvergate Capital Corporation will ‘voluntarily liquidate’ Silvergate BankThe company behind Silvergate Bank said it is considering how best to resolve claims and preserve the residual value of its assets.
Read more »
Silvergate shutting down operations and liquidating bankSilvergate Capital announced on Wednesday that it will wind down operations and liquidate Silvergate Bank.
Read more »
Marathon ends its credit facilities with Silvergate, prepays loanThe news comes shortly after Silvergate Capital Corporation announced it was voluntarily liquidating Silvergate Bank.
Read more »
Signature Bank, Stablecoins Might Benefit From Silvergate Exchange Network's DemiseThe slivergatebank 's Silvergate Exchange Network (SEN) played a crucial role in crypto markets. Now that it's been shut down, questions have arisen as to who or what is going to fill that void. $SI HeleneBraunn reports
Read more »
Silvergate Capital stock tanks as company plans to wind down its crypto-friendly bankSilvergate Capital Corp. shares plunged 30% in after-hours trading Wednesday to a record low, after the company said it intended to wind down operations and...
Read more »
Silvergate Talking With FDIC About How to Save Crypto-Focused Bank: BloombergTroubled crypto-focused bank Silvergate is talking with the FDIC about how to keep the company in business, according to Bloomberg. By NelWang
Read more »