ANALYSIS: Silvergate's crypto deposits peaked in 2021, well before the dramas of 2022 shook the sector. jesseahamilton digs into the bank's reported numbers
The sudden evaporation of most of its deposit base was only one of several worries for the La Jolla, California-based lender. The company has facedthat have been insisting that banks shouldn’t concentrate on crypto, and its disclosures this week revealed investigations from regulators and the U.S. Department of Justice, plus a suggestion that ongoing audits may require a restating of its financials.
And the bank's overall asset size also reached a high point in the fourth quarter of 2021, at $16 billion. Its most recent report showed it at $11.4 billion. According to U.S. bank capital rules, 5% is the edge of the cliff, beyond which a bank descends below a"well-capitalized" designation and toward the territory of emergency intervention from regulators.
Silvergate identified the number of digital-assets customers it was working with each quarter, and that crowd steadily rose to 1,620 last quarter – most of those identified as institutional investors, though more than 100 were"digital asset exchanges." However, those crypto customers' deposits plummeted from almost $12 billion in the third quarter last year to less than $4 billion by the end of the year.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
The Rise & Rise Of The Chinese EV Market — 17% Market Share In JanuaryAfter the December sales peak, a covid surge, the end of EV subsidies on January 1st, and the Lunar New Year celebrations (this time happening in January), one would expect a sales hangover in January,
Weiterlesen »
Minions: Rise Of Gru's Ending Proves We Need Another Despicable Me PrequelMinions: Rise of Gru shows Gru's childhood proving himself as a supervillain, but the ending reveals another Despicable Me prequel is still needed.
Weiterlesen »
Report shows 'troubling' rise in colorectal cancer among US adults younger than 55 | CNNAdults across the United States are being diagnosed with colon and rectal cancers at younger ages, and now 1 in 5 new cases are among those in their early 50s or younger, according to the American Cancer Society's latest colorectal cancer report.
Weiterlesen »
Report shows 'troubling' rise in colorectal cancer among US adults younger than 55Adults across the United States are being diagnosed with colon and rectal cancers at younger ages, and now 1 in 5 new cases are among those in their early 50s or younger, according to the American Cancer Society's latest colorectal cancer report.
Weiterlesen »
Data shows investors running toward safety of cash as stock market stumbles, yields riseInvestors poured $68.1 billion into cash funds in the week to Wednesday as concerns over additional Federal Reserve rate hikes continue to rattle financial...
Weiterlesen »