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Cryptocurrencies: 27289
Markets: 108940
Market Cap: $3,811,914,659,354     
24h Vol: $95,467,003,561
Seeking Alpha 2023-01-31 19:31:12

Silvergate Capital stock spikes after disclosing BlackRock's 7.2% stake

Silvergate Capital stock spikes after disclosing BlackRock's 7.2% stake
Silvergate Capital ( NYSE: SI ) stock gapped up as much as 10.8% to new session highs in Tuesday afternoon trading after disclosing asset manager BlackRock's ( NYSE: BLK ) 7.2% stake in the cryptocurrency-focused bank. The aggregate amount beneficially owned by BlackRock ( BLK ) stood at 2,285,197 shares of Silvergate ( SI ), according to an SEC filing. SI, stung by the lingering market downturn, is still off over 87% in the past year. Last week, BlackRock ( BLK ) was listed as a one of many high-profile firms that is owed money by failed crypto exchange FTX ( FTT-USD ).
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