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Silvergate Capital

Silvergate Capital, Crypto-Focused Bank Reported Weak Third Quarter Earnings

The cryptocurrency market is falling since last year Bitcoin, Ethereum, and other Altcoins have lost almost 60-70% of their value. This falling period is called crypto winter and due to this crypto market situation, many companies are losing their value.

Today a report published on Bloomberg according to this report California, United States-based crypto-focused bank Silvergate Capital, has reported weak quarterly earnings, missing consensus estimates as the crypto winter continues.

Today a major fall in the share price of Silvergate Capital has been seen. The share of Silvergate Capital has lost almost 22% of its value and is currently trading at $55.75. This sharp fall has come due to the continuous withdrawal of funds by customers at higher rates than expected.

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