Shares of silvergatebank fell more than 50%, to an all-time-low on Thursday, after its banking clients including coinbase, circle and Gemini said they are severing ties with the crypto bank amid uncertainties. by nikhileshde
A Kraken spokesperson did not return a request for comment on Silvergate.Silvergate Bank also said in its filing Wednesday that it would have to repay Federal Home Loan Bank loans that it took out last year.
"Subsequent to December 31, 2022, a number of circumstances have occurred which will negatively impact the timing and the unaudited results previously reported in the Earnings Release, including the sale of additional investment securities beyond what was previously anticipated and disclosed in the Earnings Release primarily to repay in full the Company’s outstanding advances from the Federal Home Loan Bank of San Francisco," the filing said.
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