Silvergate Stock Tanks on Report of DOJ Probe Tied to FTX, Alameda Dealings

CoinDesk reported:

On Friday morning, Silvergate shares were only down a little over 2%, though. On CNBC on Friday, MicroStrategy executive chairman Michael Saylor said his company would continue to do business with Silvergate, noting that “they were able to meet redemptions” and “the loan terms we have with them are nearly four times over-collateralized by 25% loan-to-value while the irresponsible crypto banks were doing under-collateralized loans.”

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