Silvergate - News, Articles & Research

Company announcement/regulation

Fed terminates Silvergate Bank enforcement action

The Federal Reserve Board on Friday announced the termination of an enforcement action with Silvergate Bank and its holding company, Silvergate Capital Corporation, both of La Jolla, California.

26 July 2024

News/crypto

Crypto bank Silvergate pays $63m to settle regulator charges

The parent company of crypto-focused bank Silvergate has agreed to pay $63 million to settle US regulatory charges about its anti-money laundering programme and the losses sustained during the collapse of FTX.

02 July 2024

News/retail

TD Bank blames regulatory uncertainty for failed First Horizon acquisition

Canada’s TD Bank has pulled its planned purchase of US bank First Horizon, stating that questions around approval of the £13.4 billion deal from regulators was to blame.

05 May 2023

News/crypto

Silvergate Bank goes into liquidation

Silvergate Bank has gone into liquidation, raising further concerns about rising volatility in the crypto sector.

09 March 2023

News/crypto

Crypto bank Silvergate warns on ability to survive

Shares in Silvergate plunged by more than 30% in after hours trading after the crypto-focused bank warned it will miss the deadline to file its annual report and raised questions about its ability to survive as a going concern.

02 March 2023

News/crypto

Silvergate's FTX dealings face fraud investigation

US Justice Department fraud prosecutors are investigating crypto-focussed bank Silvergate's dealings with FTX and Alameda Research, according to Bloomberg.

03 February 2023

News/crypto

Crypto bank Silvergate posts $1bn loss

Crypto-focussed bank Silvergate has posted a $1 billion loss for the fourth quarter, confirmed that it has laid off 200 staff, and says it will offboard some customers as it seeks to recover from the fallout of FTX's collapse.

17 January 2023

News/crypto

Silvergate buries Diem; lays off 200 staff

Silvergate, the crypto-focused bank that acquired the assets of Facebook's private digital currency Diem, has written of the $196 million price its paid for the business and laid out plans to shed 40% of its workforce.

05 January 2023

Company announcement/crypto

Silvergate confirms buy out of Facebook's Diem

Silvergate Capital Corporation (“Silvergate”) (NYSE: SI) today announced that it has acquired intellectual property and other technology assets related to running a blockchain-based payment network from the Diem Group (“Diem”), further investing in its platform and enhancing its existing stablecoin infrastructure.

01 February 2022

News/crypto

Meta considers selling off Diem assets as Zuckerberg's crypto ambitions crumble

Facebook is reportedly mulling the sale of Diem assets as regulatory pressure mounts against Mark Zuckerberg's cryptocurrency project.

26 January 2022