Diesen Artikel teilen
Crypto Bank Silvergate Stock Tumbles 45% After 'Going Concern' Filing
The ominous language came in an 8-K filing with the SEC Wednesday evening, in which the troubled lender requested more time before filing its 2022 annual report.
Von Lyllah Ledesma
Shares of crypto-friendly lender Silvergate Capital (SI) plunged 45% early Thursday on questions about its survival due to losses and numerous regulatory issues that have arisen following November's FTX exchange collapse.
In volatile action in the minutes following the opening bell, Silvergate shares were trading at $7.38 at press time.
STORY CONTINUES BELOW
Verpassen Sie keine weitere Geschichte.Abonnieren Sie noch heute den Crypto Daybook Americas Newsletter. Alle Newsletter ansehen
In a filing late Wednesday, the California-based bank said it needed more than two additional weeks to finish producing its annual report, and said the impact of recent events raises questions about its ability to continue as a "going concern."
Two Wall Street sell-siders were quick to downgrade, with JPMorgan cutting to sell and Canaccord to hold. In addition, Coinbase on Thursday announced it was switching from Silvergate to Signature Bank for servicing Prime account holders.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
