Get all your news in one place.
100's of premium titles.
One app.
Start reading
Tribune News Service
Tribune News Service
Business
Mike Freeman

Silvergate Capital faces questions from lawmakers amid FTX crypto exchange collapse

San Diego's Silvergate Capital made its name in recent years as one of a few traditional banks providing deposit, fund transfer, security and other services for the cryptocurrency trading market.

But two-high profile crypto-exchange bankruptcies — one of which is alleged to involve fraud — have sent the small financial institution's shares reeling, and drawn the scrutiny of lawmakers.

Silvergate's stock price has plunged 88 percent from a 12-month peak of $162.87 last December, trading at $18.80 midday Tuesday on the New York Stock Exchange.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.