Silvergate (SI), the digital asset-focused investment bank, reported a loss of nearly $1 billion in the fourth quarter of 2022.
In the official announcement shared by Silvergate, the same period of the previous year $18.4 million compared to land For the fourth quarter of 2022 $1.05 billion net loss announced. Net profit of $75.5 million in 2021 Considering the entire year 2023, the company 949 million net loss it happened.
According to the data, in 2021 worth 12 billion dollarsi customer deposit $4.7 billion depreciating $7.3 billion as much as it declined.
staff at the beginning of January. 40% off work issuing bank, industry and firm “economic realities” referring to this downsizing “in a more challenging macro environment” He added that it would help him manage his expenses.
The company gave the following details in its statement on the subject:
The digital asset industry has undergone a critical shift as excessive leverage in the industry has led to several high-profile bankruptcies. These dynamics have created a crisis of trust across the ecosystem and have led many industry participants to take a ‘risk-off’ position on digital asset trading platforms.
The bank’s shares on the New York Stock Exchange (NYSE) session in pre-processing $13.85, up 4.9% reached. Analysts say that this latest rise, Bitcoin’s associated with the rise claimed it was.
Silvergate’s shares, on the other hand, almost last year. 90% depreciated.