The crypto market continues to struggle in the wake of the stunning collapse of the FTX exchange. The latest casualty seems to be crypto bank Silvergate Capital.
The crypto bank has seen a significant drop in its stock in the wake of the FTX meltdown, as traders anticipate recent developments could significantly impact it.
FTX Collapse Continues To Rattle Markets
In a sign that the FTX collapse continues to spook investors, shares of crypto bank Silvergate Capital fell significantly on Friday. The stock is currently down by 47% since news first emerged of the problems brewing at FTX. The collapse in the share price occurred thanks to Silvergate’s exposure to FTX.
Previously the bank had stated that its exposure was limited to deposits. However, a note by an analyst from Goldman Sachs stated that it could not confirm Silvergate’s exposure to FTX or any of its associated entities. Silvergate stated to investors that FTX deposits with Silvergate accounted for 10% of the $11.9
We współpracy z: https://cryptodaily.co.uk/2022/11/markets-jittery-as-silvergate-capital-faces-potential-bank-run
