Alan Lane

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Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022

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Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to the CEO Alan Lane, the … Read more

Report: Confirmation of Silvergate’s $8 Billion Deposit Plunge Sees Stock Price Drop by More Than 40%

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The price of the crypto-focused bank Silvergate Capital’s shares fell by over 40% after it reported a more than $8 billion drop in customer deposits. The share price plunge came just days after U.S. prosecutors reportedly seized collapsed crypto exchange FTX’s accounts held at the bank. Alan Lane, the CEO of Silvergate, denied allegations that … Read more

Silvergate CEO calls out ‘short sellers’ spreading misinformation

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In the statement, Lane also took the opportunity to “set the record straight” about its investment relationship with FTX and the firm’s “robust risk management approach.” Go to Source Powered by WPeMatico

Silvergate Capital Purchases Diem Operations to Develop Own Stablecoin

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Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin. Silvergate Purchases Diem Operations Silvergate Capital, … Read more

Digital Currency Group Welcomes Bitcoin-Friendly Bank to the ‘DCG Family’

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This week the ‘bitcoin-friendly’ financial institution Silvergate Bank sold 9.5 million shares that raised a sum of $114Mn USD during the common stock sale. Some of the capital injection was provided by the venture capital firm Digital Currency Group who welcomed Silvergate Bank into the company’s growing list of partners and subsidiaries. Also read: Indians Look … Read more