Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022

Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022


Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to the CEO Alan Lane, the firm remains “focused on providing value-added services for [its] core institutional customers.”

Confidence Crisis

Less than a month after Silvergate Bank reported a massive drop in customer deposits, the crypto-focused financial institution’s parent firm, Silvergate Capital Corporation, said on Jan. 17 that a “transformational shift” seen in the fourth quarter (Q4) had helped to “create a crisis of confidence across the ecosystem.” This, in turn, sparked the shift to a

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