18 days ago
Protos
Crypto-friendly bank and financial service provider Silvergate posted a loss of $949 million for the final three months of 2022. The bank’s largest customers, FTX and Alameda Research, filed for bankruptcy protection in November. Indeed, it’s been a rough year for both Silvergate and its industry — Alameda Research made Silvergate its primary bank in 2022. Then, the firm instructed FTX customers to make deposits by wiring money to Alameda Research’s Silvergate account. From September 30, 2022 to December 31, 2022, Silvergate shed 52 digital asset customers.
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