Trending...
- Bob Holz New Video with Darryl Jones of the Rolling Stones, Concert, Album and Endorsement
- Immediate Therapy for Urinary Incontinence in Women
- SHAREHOLDER ACTION ALERT: The Schall Law Firm Encourages Investors in Ryvyl Inc. with Losses of $100,000 to Contact the Firm
LA JOLLA, Calif.--(BUSINESS WIRE)--Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced a business update, citing that its deposit relationship with BlockFi Inc. ("BlockFi") is limited to less than $20 million of its total deposits from all digital asset customers as of November 28, 2022.
BlockFi is not a custodian for Silvergate's bitcoin-collateralized SEN Leverage loans, which to date have continued to perform as expected with zero losses and no forced liquidations. Silvergate has no investments in BlockFi.
Silvergate maintains a first priority lien and security interest in a cash collateral account, which contains $10 million for the benefit of Silvergate to support ACH services provided to BlockFi.
"As the digital asset industry continues to transform, I want to reiterate that Silvergate's platform was purpose-built to manage stress and volatility," said Alan Lane, Chief Executive Officer of Silvergate. "The SEN continues to operate as designed, and our support teams are available 24 hours a day, 7 days a week to help our customers during this period of adversity."
More on The Californer
Recently, Silvergate has been the subject of false and misleading statements. For factual and accurate information, Silvergate directs persons to its recent press releases, which are available on the Company's website at https://ir.silvergate.com in the Investor Relations section and Silvergate's most recent Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission.
About Silvergate
Silvergate Capital Corporation (NYSE: SI) is the leading provider of innovative financial infrastructure solutions and services for the growing digital asset industry. The Company's real-time payments platform, known as the Silvergate Exchange Network, is at the heart of its customer-centric suite of payments, lending and funding solutions serving an expanding class of digital asset companies and investors around the world. Silvergate is enabling the rapid growth of digital asset markets and reshaping global commerce for a digital asset future.
Contacts
Investor Relations:
Hunter Stenback/Ashna Vasa
(858) 200-3782
investors@silvergate.com
Media:
Evann Berry
press@silvergate.com
BlockFi is not a custodian for Silvergate's bitcoin-collateralized SEN Leverage loans, which to date have continued to perform as expected with zero losses and no forced liquidations. Silvergate has no investments in BlockFi.
Silvergate maintains a first priority lien and security interest in a cash collateral account, which contains $10 million for the benefit of Silvergate to support ACH services provided to BlockFi.
"As the digital asset industry continues to transform, I want to reiterate that Silvergate's platform was purpose-built to manage stress and volatility," said Alan Lane, Chief Executive Officer of Silvergate. "The SEN continues to operate as designed, and our support teams are available 24 hours a day, 7 days a week to help our customers during this period of adversity."
More on The Californer
- American Vanguard Announces Preliminary Unaudited Full Year 2022 Financial Highlights
- California: Governor Newsom Honors Two CHP Officers With Medal of Valor
- California: Governor Newsom Names Sean Duryee CHP Commissioner
- California: Governor Newsom Calls Out Big Oil on Continued Push for Drilling in Neighborhoods
- City of Long Beach to Provide Sanitation and Water Filling Services to People Living in Recreational Vehicles
Recently, Silvergate has been the subject of false and misleading statements. For factual and accurate information, Silvergate directs persons to its recent press releases, which are available on the Company's website at https://ir.silvergate.com in the Investor Relations section and Silvergate's most recent Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission.
About Silvergate
Silvergate Capital Corporation (NYSE: SI) is the leading provider of innovative financial infrastructure solutions and services for the growing digital asset industry. The Company's real-time payments platform, known as the Silvergate Exchange Network, is at the heart of its customer-centric suite of payments, lending and funding solutions serving an expanding class of digital asset companies and investors around the world. Silvergate is enabling the rapid growth of digital asset markets and reshaping global commerce for a digital asset future.
Contacts
Investor Relations:
Hunter Stenback/Ashna Vasa
(858) 200-3782
investors@silvergate.com
Media:
Evann Berry
press@silvergate.com
Filed Under: Business
0 Comments
Latest on The Californer
- Serial Entrepreneur Manny Wolfe Launches Innovative Tutoring Company
- The estate of Shirley Baskin, co-founder of Baskin Robbins, is part of Andrew Jones' Feb. 22 auction
- Presto to Report Second Quarter 2023 Financial Results on February 14, 2023
- San Jose: City to Add Foster Youth Housing
- Bosco Tech to Host Internationally Acclaimed Educational Expert Dr. Michael G. Thompson on Feb. 27
- Governor Newsom Announces Designation of Three More California Jurisdictions as Prohousing for Strides Made to Accelerate Housing Production
- SEW Acquires 3Insys - Provider of an Agile iPaaS Integration Platform for the Energy and Utility industry
- Avirmax Biopharma Inc. Will Present at Glaucoma 360 New Horizons Forum 2023
- Max Verstappen Signs With EA Sports™
- Juicefly Offers High-Quality Vape Products in Los Angeles
- Flexiv Launches Revolutionary Force-Controlled Parallel Robot
- For the Tenth Consecutive Year, Persistent Ranked a Leader in Zinnov Zones Engineering Research and Development Services Ratings USA - English USA - English
- How moving online helped us scale regional meetups
- Shareholder Alert: Robbins LLP Informs Investors of Class Action Against Honda Motor Co., Ltd.
- ATEN Technology Empowers BYOD Collaboration with New Presentation Switches
- SET Announces Groundbreaking Solar Boost Technology
- Soft Treats That Older Dogs Can Sink Their Teeth Into
- California: Governor Newsom Announces Appointments 2.2.23
- The 10 Principles Of Economics And How They Can Benefit You
- HVAC Alliance Expert Offers Reliable Central Heating System Installation Across California and New York