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.