Silvergate’s shiny hinges have rusted as the crypto bank plans to shut down

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On Wednesday, Silvergate Capital, a publicly traded crypto bank, shared that it would “wind down operations and voluntarily liquidate” its bank division.
The move from the California-based firm followed a run that resulted in it selling off assets at a huge loss to cover over $8 billion in withdrawals amid the broader crypto ecosystem meltdown.
The institution, which was one of the few banks that acted as an intermedia

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