Crypto stocks slide after Silvergate decides to shut down

Published by
Reuters UK

(Reuters) – Shares of crypto-focused companies fell on Thursday in premarket trading after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX’s implosion last year reverberates through the industry. The crypto lender’s shares slumped 45% to $2.86, a day after hitting a record low and losing 64% since the company flagged a going concern risk on March 1. Shares of Signature Bank, which uses blockchain technology, fell 9%. Crypto exchange Coinbase Global, which severed ties with the bank last week, dropped 3%. Miners Riot Blockchain …

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