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Cryptocurrencies: 27289
Markets: 108940
Market Cap: $3,811,914,659,354     
24h Vol: $95,467,003,561
Seeking Alpha 2022-11-29 14:42:58

Silvergate Capital says it has under $20M in BlockFi digital asset deposit exposure

Silvergate Capital says it has under $20M in BlockFi digital asset deposit exposure
Silvergate Capital ( NYSE: SI ) said its deposit exposure to BlockFi, the cryptocurrency lender that filed for bankruptcy protection earlier this week, was less than $20M of its total digital asset customer deposits as of November 28. The digital-asset focused bank emphasized that it has no investments in BlockFi, which "is not a custodian for Silvergate’s bitcoin-collateralized SEN Leverage loans, which to date have continued to perform as expected with zero losses and no forced liquidations." SI stock gained 1.9% in Tuesday morning trading. Similarly, Silvergate said its deposit relationship with the now-bankrupt crypto exchange FTX was limited to less than 10% of its total digital asset customer deposits .
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