Crypto Bank Silvergate Goes Out of Business

Published by
The Street

By Luc Olinga California bank pays for its bets on the cryptocurrency industry, rocked by bankruptcies since last summer. It is the first U.S. bank to go out of business since 2020. It’s a new thunderclap that falls on the crypto industry. A disaster that had been brewing for a few days and which has just shaken the young financial services industry, powered by blockchain technology. Silvergate Bank (SI) – Get Free Report, one of the few banks to embrace the crypto sphere, is out of business, suffering from its exposure to the numerous bankruptcies of crypto firms since last summer. The compan…

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