{"id":8523,"date":"2023-01-05T17:37:48","date_gmt":"2023-01-05T16:37:48","guid":{"rendered":"http:\/\/costops.com\/index.php\/2023\/01\/05\/silvergate-forced-to-cover-8bn-worth-of-crypto-related-withdrawals\/"},"modified":"2023-01-05T17:37:48","modified_gmt":"2023-01-05T16:37:48","slug":"silvergate-forced-to-cover-8bn-worth-of-crypto-related-withdrawals","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2023\/01\/05\/silvergate-forced-to-cover-8bn-worth-of-crypto-related-withdrawals\/","title":{"rendered":"Silvergate forced to cover $8bn worth of crypto-related withdrawals"},"content":{"rendered":"

The US bank was forced to sell $5.2bn worth of assets for cash and booked a loss of $718m on those sales<\/p>\n

Customers of US bank Silvergate, one of the few mainstream financial organisations that focuses on providing services to the cryptocurrency sector, have pulled more than $8bn (\u00a36.7bn) of their crypto-related deposits from the lender.<\/p>\n

Over two-thirds of customers\u2019 deposits were withdrawn in the final three months of 2022, as the collapse of the FTX exchange<\/a> reverberated around the cryptocurrency sector<\/a>.<\/p>\n

Continue reading…<\/a>
\nThe US bank was forced to sell $5.2bn worth of assets for cash and booked a loss of $718m on those sales
\nCustomers of US bank Silvergate, one of the few mainstream financial organisations that focuses on providing services to the cryptocurrency sector, have pulled more than $8bn (\u00a36.7bn) of their crypto-related deposits from the lender.
\nOver two-thirds of customers\u2019 deposits were withdrawn in the final three months of 2022, as the collapse of the FTX exchange reverberated around the cryptocurrency sector. Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

The US bank was forced to sell $5.2bn worth of assets for cash and booked a loss of $718m on those sales Customers of US bank Silvergate, one of the few mainstream financial organisations that focuses on providing services to the cryptocurrency sector, have pulled more than $8bn (\u00a36.7bn) of their crypto-related deposits from the …<\/p>\n

Silvergate forced to cover $8bn worth of crypto-related withdrawals<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":8524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/8523"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=8523"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/8523\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/8524"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=8523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=8523"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=8523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}