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Silvergate Capital shares drop 57% after the crypto bank delays its annual report - TL;DR CNBC

Silvergate Capital shares drop 57% after the crypto bank delays its annual report

Publishing timestamp: 2023-03-02 16:22:05


Summary

Shares of Silvergate Capital plummeted Thursday after the bank delayed filing its annual 10-K report as it evaluates events that have happened since the end of 2022. JPMorgan downgraded Silvergate shares Thursday along with other Wall Street analysts, and the company reported a net loss of $948.7 million for 2022. Other crypto-related companies such as Signature Bank, Coinbase, Galaxy Digital, Circle, and Paxos have taken measures to distance themselves from Silvergate. Bitcoin and Ether prices remained flat.


Sentiment: NEGATIVE

Tickers: COINSISBNY

Keywords: technologysilvergate capital corpinvestment strategysignature bankmarketsbusiness newscryptocurrencycoinbase global inc

Source: https://www.cnbc.com/2023/03/02/silvergate-capital-shares-crater-after-the-crypto-bank-delays-annual-report.html


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