June 6, 2023

Bobbys Brane

Bobbys Brane – Business & Tech Blog

MicroStrategy, Tether adds to firms distancing from Silvergate as stock dives 57% By Cointelegraph

1 min read

Business intelligence firm MicroStrategy and stablecoin issuer have become the latest two firms to publicly deny any meaningful exposure to Silvergate Bank.

The news comes after Silvergate announced on March 1 that it would postpone the filing of its annual 10-K financial report, which has many fearing the cryptocurrency bank may be on the brink of a bankruptcy filing.

A diagram of Silvergate’s clientele and crypto offerings. Source: Silvergate BankSilvergate’s change in share price index on the New York Stock Exchange. Source: MarketWatch.

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