Silvergate Capital annonce la liquidation de Silvergate Bank

• Silvergate Capital Corporation, la société à l'origine de la banque crypto, Silvergate Bank, a confirmé la liquidation de la banque. 
• The decision was made “in light of recent industry and regulatory developments” and multiple firms ending their relations with the crypto bank.
• The Bank’s “wind down and liquidation plan includes full repayment of all deposits,” read the announcement. 
• Le vendeur à découvert vétéran, Marc Cohodes, a prédit que la banque crypto mourrait dans une semaine le 4 mars. 

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Silvergate Bank, a crypto bank and fintech firm that rose to popularity over the years, has failed to survive the prevailing crypto winter due to its exposure to the bankruptcy crypto exchange FTX. Silvergate Capital Corporation, the company behind the crypto bank, has announced that it will “voluntarily liquidate” the fintech firm because it seems like the best path for the firm looking at the current crypto market situation and regulatory developments. 

Selon un annonce on March 8, Silvergate Capital Corporation has decided to close the bank “in light of recent industry and regulatory developments” and multiple crypto companies reducing their exposure to the crypto bank. Many firms also scaled back their partnerships with the bank, including Coinbase, Paxos, Gemini, BitStamp, and Galaxy Digital.

La communauté crypto sur Twitter a vu cela venir alors que de nombreux employés ont reçu des lettres pour se préparer à la fermeture immédiate de l'entreprise. Il est crucial de noter que Silvergate Capital Corporation a également récemment licencié un nombre important d'employés, comme indiqué précédemment par Bitnation. La société mère de la banque licencié 40% de ses effectifs, soit environ 200 employés. 

The Nasdaq-listed company also scrapped its ambitions to introduce a digital currency and wrote off the $196 million associated with its purchase of Diem Association’s technology and assets from META. At that time, the company said it now has to adapt to the “economic realities facing the digital asset industry today.”

MISE À JOUR : Employés chez Silvergate $SI ont reçu l'ordre de se préparer à la liquidation et à la fermeture imminente.

**Source: “we’ve been told that an orderly liquidation will be announced and our charter will be handed over to the FDIC.”

**employees have been given their WARN Act…

– Andrew (@AP_Abacus) 8 mars 2023

On the other hand, Silvergate Bank’s “wind down and liquidation plan includes full repayment of all deposits,” according to the announcement, which adds that the company is “considering how best to resolve claims and preserve the residual value of its assets, including its proprietary technology and tax assets.”

En outre, Silvergate Capital a également confirmé que Centerview Partners LLC agit en tant que conseiller financier, Cravath, Swaine & Moore LLP agit en tant que conseiller juridique et Strategic Risk Associates fournit une assistance à la gestion de projet de transition dans le processus de liquidation, ce qui semble être le seul moyen pour l'entreprise d'assurer son avenir. 

Il semble que la prédiction faite par le vendeur à découvert vétéran Marc Cohodes, connu pour ses attaques contre la société cotée au Nasdaq depuis l'année dernière, se soit réalisée. Comme indiqué précédemment par Bitnation, Cohodes a prédit que Silvergate Bank va s'effondrer dans une semaine, adding that the company “is a publicly traded crime scene” and that the CEO of the company, Alan Lane, belongs in prison. 

Additionally, the company also shut down its digital asset payments network, the Silvergate Exchange Network (SEN), adding that the termination was a “risk-based decision.” This sparked rumors of liquidation in the crypto space. Interestingly, United States Judge Michael B. Kaplan ordered the bank to return $9,850,000 deposited by BlockFi, a bankrupt crypto lender that had exposure to FTX. 

Il est crucial de noter que l'entreprise même rencontré des représentants de la Federal Deposit Insurance Corporation (FDIC) to prevent a possible liquidation. The officials visited the company’s headquarters last week and dug deep into the records and books of the crypto firm to come up with a possible solution.

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