Silvergate reports $1B net loss in the fourth quarter of 2022

Silvergate Bank, which currently faces a class-action lawsuit over its FTX and Alameda Research dealings, has announced a $1 billion net loss attributable to common shareholders in the fourth quarter of 2022. 

In a report published by the United States Securities and Exchange Commission (SEC), the digital asset bank highlighted that it saw significant outflows of deposits in the last quarter of 2022 and made actions to maintain cash liquidity, including wholesale funding and selling debt…

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