JPMorgan Downgrades Crypto Bank Silvergate Capital After 4Q Results, Shares Slump

Silvergate Shares Drop to Fresh 2-Year Low Amid FTX Testimony

“These events highlight Silvergate Bank’s significant operating challenges, in particular the profitability, funding and liquidity risk associated with amplified deposit volatility driven by uncertainty in the crypto currency market and the bank’s narrow business model,” Sadia Nabi, a senior analyst at Moody’s Financial Institutions Group, said.

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