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Report: Silvergate’s $8 Billion Deposit Plunge Confirmed Sees Stock Prices Drop by More than 40%

 

After reporting a more than $8B drop in customer deposits, Silvergate Capital’s shares plunged by 40%. The plunge in share prices occurred just days after U.S. prosecutors reportedly seized accounts at the bank that belonged to the collapsed crypto exchange FTX. Silvergate CEO Alan Lane denied the allegations.

 

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