Silvergate (SI), the digital asset-focused investment bank, announced that it has delayed the release of its annual report. Following the announcement, the company’s share price fell more than 50% to an all-time low.
In the news presented by Reuters, it was stated that Silvergate postponed its annual report announcement on March 16. silvergate, to the US Securities and Exchange Commission (SEC) The report containing the annual data of the company to be submitted in the next two weeks will be announced.
After this statement made on March 1, SI share price, which faced selling pressure with the closing of the markets, $13.5 from the levels 6.76 up to dollars more than 50% witnessed a decline.
In the statement made by the bank, signals were also given that the loss may continue to grow. Silvergate, in the aforementioned report that it reported late, also in the first two months of 2023. additional debt sold its stocks and in the coming months more damage He added that he was waiting to save:
These additional losses will adversely affect the company’s regulatory capital ratios. The negative impact to be experienced may cause the company and the bank to be far from being well-capitalized. In addition, the company is assessing the impact of these subsequent events on its ability to continue as a going concern for the twelve months following the issue of its financial statements.
After bank, FTX and Alameda bankruptcies 8 billion dollars He had to sell assets, and in the past few weeks he may have been linked to these bankruptcies. US Department of Justice (DOJ) was under detailed investigation.
