Market Down Silvergate Bank

Market Falls in Response to Silvergate Revelations

CryptocurrencyNews
··1 min read

The cryptocurrency market has seen significant declines over the past 24 hours. At the time of writing the entire market is down 3.71% over the last day. Among the top cryptocurrencies, Bitcoin’s price has decreased by 4.49% and Ethereum’s by 4.68%.

The decline comes after news on Wednesday that crypto-friendly bank Silvergate will delay its annual 10-K filing for the 2022 fiscal year. The announcement also said that the bank was “currently analyzing certain regulatory and other inquiries and investigations that are pending”.

Silvergate is yet another casualty of last November’s FTX collapse – the bank reportedly suffered a run after the implosion of the crypto exchange.

Yesterday, a number of Silvergate’s crypto clients including Coinbase, Gemini, and Crypto.com all announced that they would suspend transfers from the bank.

  • bitcoinBitcoin (BTC) $ 63,255.00 3.5%
  • ethereumEthereum (ETH) $ 3,033.24 1.85%
  • tetherTether (USDT) $ 1.00 0.11%
  • bnbBNB (BNB) $ 595.97 0.15%
  • solanaSolana (SOL) $ 154.30 7.95%
  • usd-coinUSDC (USDC) $ 0.999264 0.04%
  • xrpXRP (XRP) $ 0.515325 0.38%
  • staked-etherLido Staked Ether (STETH) $ 3,031.75 1.87%
  • the-open-networkToncoin (TON) $ 6.94 15.66%
  • dogecoinDogecoin (DOGE) $ 0.150917 3.28%
  • cardanoCardano (ADA) $ 0.464983 2.93%
  • shiba-inuShiba Inu (SHIB) $ 0.000023 3.95%
  • avalanche-2Avalanche (AVAX) $ 35.73 4.74%
  • tronTRON (TRX) $ 0.124733 0.59%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 63,134.00 3.37%
  • polkadotPolkadot (DOT) $ 7.11 3.88%
  • bitcoin-cashBitcoin Cash (BCH) $ 453.10 1.07%
  • chainlinkChainlink (LINK) $ 14.29 2.21%
  • nearNEAR Protocol (NEAR) $ 7.59 5.32%
  • matic-networkPolygon (MATIC) $ 0.697291 2.45%
  • litecoinLitecoin (LTC) $ 83.24 1.92%
  • fetch-aiFetch.ai (FET) $ 2.35 8.47%
  • internet-computerInternet Computer (ICP) $ 12.44 4.51%
  • uniswapUniswap (UNI) $ 7.53 3.39%
  • leo-tokenLEO Token (LEO) $ 5.92 0.07%
  • daiDai (DAI) $ 1.00 0.34%
  • render-tokenRender (RNDR) $ 11.46 9.72%
  • ethereum-classicEthereum Classic (ETC) $ 27.68 2.03%
  • hedera-hashgraphHedera (HBAR) $ 0.111351 2.56%
  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00 0.16%
  • aptosAptos (APT) $ 8.88 4.07%
  • pepePepe (PEPE) $ 0.000009 7.36%
  • cosmosCosmos Hub (ATOM) $ 9.11 2.09%
  • mantleMantle (MNT) $ 1.04 2.87%
  • crypto-com-chainCronos (CRO) $ 0.127540 3.31%
  • immutable-xImmutable (IMX) $ 2.28 11.6%
  • filecoinFilecoin (FIL) $ 5.90 2.41%
  • wrapped-eethWrapped eETH (WEETH) $ 3,156.77 2.25%
  • stellarStellar (XLM) $ 0.109447 2.31%
  • dogwifcoindogwifhat (WIF) $ 3.18 13.06%
  • kaspaKaspa (KAS) $ 0.132000 9.94%
  • blockstackStacks (STX) $ 2.14 4.55%
  • okbOKB (OKB) $ 50.48 0.98%
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,987.41 2.09%
  • the-graphThe Graph (GRT) $ 0.313432 16.68%
  • arweaveArweave (AR) $ 44.16 15.32%
  • optimismOptimism (OP) $ 2.66 3.17%
  • arbitrumArbitrum (ARB) $ 1.05 3.44%
  • bittensorBittensor (TAO) $ 395.60 2.85%
  • vechainVeChain (VET) $ 0.036238 3.95%

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