LA JOLLA, Calif.–(BUSINESS WIRE)–Silvergate Capital Corporation (the “Company” or “Silvergate”) (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today issued the following statement regarding its exposure to FTX and its related entities (“FTX”):
“In light of recent developments, I want to provide an update on Silvergate’s exposure to FTX. As of September 30, 2022, Silvergate’s total deposits from all digital asset customers totaled $11.9 billion, of which FTX represented less than 10%. Silvergate has no outstanding loans to nor investments in FTX, and FTX is not a custodian for Silvergate’s bitcoin-collateralized SEN Leverage loans. To be clear, our relationship with FTX is limited to deposits,” said Alan Lane, Chief Executive Officer of Silvergate.
Lane continued, “To date, all SEN Leverage loans have continued to perform as expected with zero losses and no forced liquidations. As a remin
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