Silvergate Bank

Silvergate Bank
Company typePublic
Expert Market: SICP
Industry
Founded
  • 1988; 36 years ago (1988)
  • 1996; 28 years ago (1996) (as a bank)
FoundersDennis Frank and Derek J. Eisle (1996 re-capitalization)
Defunct2023 (announced winding down)
FateVoluntary liquidation
Headquarters
La Jolla, San Diego, California
,
U.S.
Area served
Worldwide
Key people
Products
Websitesilvergate.com
Silvergate stock price

Silvergate Bank was a California bank founded in 1988. The company began providing services for cryptocurrency users in 2016, and conducted an IPO in 2019. In November 2022, concerns were raised about Silvergate's health, after a fall in cryptocurrency prices and the bankruptcy of FTX.[1][2][3][4] In March 2023, the bank announced plans to wind down and liquidate.[5] Its failure was one of the first in the 2023 United States banking crisis.

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  5. ^ Church, Steven (March 8, 2023). "Silvergate Slides on Plan to Wind Down Bank Operations and Liquidate". Bloomberg News. Retrieved March 8, 2023.