Investors eye President Biden’s budget plan which is expected to include a suite of tax hikes, Bitcoin slides after Silvergate Bank shuts down, Norfolk Southern CEO on Capitol Hill and weekly jobless claims jump. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Shares of crypto-focused companies fell on Thursday after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX's implosion last year reverberates through the industry.
Silvergate's latest move adds to a list of high-profile collapses among crypto market players since last year. Shares of peer Signature Bank, which has been pivoting away from crypto since late last year, fell 8%.In its second mid-quarter update this month, Signature said digital assets accounted for just 18.5% of its total deposit balance.
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Silvergate shutting down operations and liquidating bankSilvergate Capital announced on Wednesday that it will wind down operations and liquidate Silvergate Bank.
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Silvergate Capital Corporation will ‘voluntarily liquidate’ Silvergate BankThe company behind Silvergate Bank said it is considering how best to resolve claims and preserve the residual value of its assets.
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Marathon ends its credit facilities with Silvergate, prepays loanThe news comes shortly after Silvergate Capital Corporation announced it was voluntarily liquidating Silvergate Bank.
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GBTC discount narrows, bitcoin trades above $22,000 as Silvergate leads drop in stocksCrypto prices sank while GBTC continued to benefit from what some perceived as a positive day in court.
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Silvergate Bank Announces Voluntary Liquidation as Crypto Industry Woes Persist – Bitcoin News'Silvergate believes an orderly wind down of bank operations and a voluntary liquidation of the bank is the best path forward,” the bank said. SilvergateBank Crypto
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Bitcoin Miner Marathon Digital Terminates Credit Facility With Crypto Bank SilvergateMarathon Digital terminated its credit facilities with Silvergate Bank, which said Wednesday it will wind down operations and liquidate its assets. By Aoyon_A
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