2 years ago
Crypto-focussed Silvergate Bank's Q4 nett income dipped astir 9% to $21.4 cardinal from $23.5 cardinal successful Q3.
Average integer currency lawsuit deposits besides accrued to $13.3 cardinal from $11.2 billion.
Meanwhile, the bank's on-ramp for bitcoin markets known arsenic the Silvergate Exchange Network (SEN) processed transfers worthy $219.2 billion, compared to $162 cardinal past quarter.
Shares of the bank's genitor company, Silvergate Capital Corporation, were down 13.41% successful pre-market trading connected the New York Stock Exchange.
Based successful La Jolla, California, Silvergate's clients see crypto exchanges specified arsenic Coinbase, Gemini and Kraken and stablecoin issuer Circle.
Jamie Crawley is simply a CoinDesk quality newsman based successful London.
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