2 years ago
Silvergate Bank saw its shares autumn 32% to $9.14 successful after-hours trading connected March 1.
Those losses travel aft the company’s said successful a filing submitted to the U.S. Securities and Exchange Commission (SEC) connected March 1 that it would hold its yearly 10-K study by 2 weeks.
The institution said it is “analyzing definite regulatory and different inquiries and investigations” that are pending. It said that backstage litigation, arsenic good arsenic regulatory activity, could pb to restrictions connected its activities and quality to “continue arsenic a going concern”
Silvergate specifically alluded to inquiries and investigations underway by U.S. Congress (i.e. senators), slope regulators, and the U.S. Department of Justice.
Silvergate has travel nether scrutiny successful caller months chiefly owed to its expected relation successful the illness of FTX, an apparently related slope run, and assorted different adjacent issues.
The crypto derivatives trading steadfast LedgerX incidentally said successful backstage messages yesterday that it would displacement from Silvergate to its competitor, Signature Bank.
The station Silvergate banal falls 32% after-hours aft filing delay, imaginable inquiries appeared archetypal connected CryptoSlate.
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