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Silvergate Bank - Wikipedia In November 2022, concerns were raised about Silvergate's health, after a fall in cryptocurrency prices and the bankruptcy of FTX [1][2][3][4] In March 2023, the bank announced plans to wind down and liquidate [5] Its failure was one of the first in the 2023 United States banking crisis
Silvergate “In early March 2023, Silvergate made a responsible decision to liquidate voluntarily and without government assistance As of November 2023, all deposits had been repaid to banking customers and Silvergate ceased banking operations soon after
Silvergate exec cites ‘supervisory pressure’ in bankruptcy filing Silvergate Bank parent company Silvergate Capital Corp filed for Chapter 11 bankruptcy Tuesday in Delaware, court documents show The filing comes 18 months after Silvergate Bank, best known for its ties to cryptocurrency, wound down “in light of recent industry and regulatory developments ”
DFPI Statement: Silvergate Bank to Begin Voluntary Liquidation SACRAMENTO – The California Department of Financial Protection and Innovation announced today that Silvergate Bank, a state-chartered bank under the supervision of the DFPI, has voluntarily begun the process of liquidation
Silvergate executive says sudden regulatory shift led to banks . . . However, the first bank to fall in the crisis was Silvergate Bank, a La Jolla, California based institution that primarily served clients in the digital assets industry, leading many to label it a "crypto bank "
Silvergate executive blames Fed, FDIC and OCC for banks collapse As Silvergate Capital Corp filed for Chapter 11 bankruptcy protection on Wednesday, a company executive blamed the collapse of its banking subsidiary last year on regulators who soured on its crypto-friendly business model
Silvergate Capital Corporation Announces Intent to Wind Down Operations . . . 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 The Bank’s wind down and liquidation plan includes full repayment of all deposits