Shares of silvergatebank continued to fall Friday despite its CEO's attempts to reassure investors that the company had minimal exposure to FTX. LizKNapolitano reports
Silvergate Capital shares fell Friday morning in a sign that FTX’s rapid unraveling continues to rattle investors.
“Suffice it to say, whether deposits are up or down, we have the liquidity and the capital ratios to support the volatility,” said Lane at the Oppenheimer Blockchain & Digital Assets Summit. Hours after Lane’s remarks, crypto prime brokerage FalconX announced it would not be using Silvergate SEN Leverage, which enables institutional investors to trade any asset on-platform with leverage collateralized by bitcoin or U.S. dollars, “out of an abundance of caution.” It will also not be using the crypto banker to make wire transfers.
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