A comprehensive timeline of Silvergate’s downfall
Investors in Silvergate have lost almost everything after the company failed to protect FTX customer money from Alameda.
Cryptocurrency news by Protos · Protos
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Show Notes
Silvergate marketed itself as a crypto-friendly banking services provider but, unsurprisingly, it ended up providing financial services to firms that were once the world’s second-largest crypto exchange and market-maker: FTX and Alameda Research.
As the world discovers the reality behind Silvergate’s business, investors have progressively sold off shares as they dropped from their $238 November 2021 heights to under $13 today. Not only that, even Senators are probing Silvergate regarding inappropriate transfers of FTX customer funds into Sam Bankman-Fried’s trading fund, Alameda.
With Silvergate's reckoning still playing out, here is a timeline of events that led up to and hastened the company's collapse.
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