According to a tweet by #Chairman Michael Saylor, the bitcoin was acquired at an average price of ~$29,817 per bitcoin. The loan was through now-collapsed #Silvergate Bank, which explains the steep discount on the loan paid off by MicroStrategy.
TipMeACoffeebeta
#silvergate
The parent company of #Silvergate Bank, known to many in the space as one of the major #crypto banks, has announced plans to “wind down operations” and liquidate the bank.
With the future absence of #Silvergate, it’s unclear what the impact will be on other #crypto firms with funds tied to the bank or otherwise exposed.
#Concerns that a liquidity crisis could lead to a bankruptcy filing increased last week after #Silvergate postponed filing its annual 10-K financial report.
The FHLB is a #consortium of 11 regional banks across the United States that #provide funds to other banks and lenders.#Silvergate reportedly borrowed $3.6 billion from the U.S. Federal Home Loan Banks #System (FHLB) to mitigate a surge in withdrawals.
#Silvergate reportedly borrowed $3.6 billion from the U.S. Federal Home Loan Banks #System (FHLB) to mitigate a surge in withdrawals.
#Concerns that a liquidity crisis could lead to a bankruptcy filing increased last week after #Silvergate postponed filing its annual 10-K financial report.
With the future absence of #Silvergate, it’s unclear what the impact will be on other #crypto firms with funds tied to the bank or otherwise exposed.
The parent company of #Silvergate Bank, known to many in the space as one of the major #crypto banks, has announced plans to “wind down operations” and liquidate the bank.
After #Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is #attributing the financial institution’s downfall to “crypto risk
According to a tweet by #Chairman Michael Saylor, the bitcoin was acquired at an average price of ~$29,817 per bitcoin. The loan was through now-collapsed #Silvergate Bank, which explains the steep discount on the loan paid off by MicroStrategy.
The parent company of #Silvergate Bank, known to many in the space as one of the major #crypto banks, has announced plans to “wind down operations” and liquidate the bank.
With the future absence of #Silvergate, it’s unclear what the impact will be on other #crypto firms with funds tied to the bank or otherwise exposed.
According to a tweet by #Chairman Michael Saylor, the bitcoin was acquired at an average price of ~$29,817 per bitcoin. The loan was through now-collapsed #Silvergate Bank, which explains the steep discount on the loan paid off by MicroStrategy.
According to a tweet by #Chairman Michael Saylor, the bitcoin was acquired at an average price of ~$29,817 per bitcoin. The loan was through now-collapsed #Silvergate Bank, which explains the steep discount on the loan paid off by MicroStrategy.
According to a tweet by #Chairman Michael Saylor, the bitcoin was acquired at an average price of ~$29,817 per bitcoin. The loan was through now-collapsed #Silvergate Bank, which explains the steep discount on the loan paid off by MicroStrategy.
The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.
The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.
The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.
The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.
The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.
The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.
According to a tweet by #Chairman Michael Saylor, the bitcoin was acquired at an average price of ~$29,817 per bitcoin. The loan was through now-collapsed #Silvergate Bank, which explains the steep discount on the loan paid off by MicroStrategy.
The first reason is related to the collapse of #Silvergate #Bank and its voluntary liquidation. Silvergate Bank counted numerous #crypto companies among its customers and for this very reason it represents a great concern of the entire crypto market!
The Senate Banking #Committee held a hearing on March 28, in which Gruenberg said #Silvergate Bank had not adequately managed risks that led to its failure.
The FDIC, along with New York #financial regulators, closed the crypto-friendly bank on March 12, citing risks to the U.S. economy after Silicon Valley Bank and #Silvergate Bank had failed.
After the fall of #Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth #management services provider, is the latest financial institution to receive a bailout
According to a tweet by #Chairman Michael Saylor, the bitcoin was acquired at an average price of ~$29,817 per bitcoin. The loan was through now-collapsed #Silvergate Bank, which explains the steep discount on the loan paid off by MicroStrategy.
After the fall of #Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth #management services provider, is the latest financial institution to receive a bailout
Gruenberg noted that #Silvergate Bank and Signature Bank used digital platforms that made it #possible to carry out transactions round-the-clock.
#Gruenberg noted that, like #Silvergate Bank, SVB had concentrated its activities in a single sector — venture capital firms.
#Gruenberg’s narrative began with the closing of digital asset-focused #Silvergate Bank, which was announced on March 8, although that story began with the bankruptcy of FTX.
The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.
The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.
The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.
The first reason is related to the collapse of #Silvergate #Bank and its voluntary liquidation. Silvergate Bank counted numerous #crypto companies among its customers and for this very reason it represents a great concern of the entire crypto market!
After the fall of #Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth #management services provider, is the latest financial institution to receive a bailout
Since the #beginning of March 2023, several major financial entities, including #Silvergate Bank, Silicon Valley Bank (SVB), Signature Bank and Credit Suisse, have collapsed.