The Rise and Fall of Silvergate’s Crypto Business

  • March 4, 2023

Silvergate identified the number of digital-assets customers it was working with each quarter, and that crowd steadily rose to 1,620 last quarter – most of those identified as institutional investors, though more than 100 were “digital asset exchanges.” However, those crypto customers’ deposits plummeted from almost $12 billion in the third quarter last year to less than $4 billion by the end of the year.

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