Silvergate Bank Facing a Potential Bank Run

A 30% decline in Silvergate's stock was seen as financial issues surfaced.

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A potential bank run is on the horizon, Similar to what occurred to FTX Exchange in November. Leaders in the digital currency industry are advising bank customers to withdraw their money.

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Due to its failure to submit its Form 10-K for the prior fiscal year, the corporation has lost the trust of investors.

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The fact that FTX and Silvergate Bank had a significant working connection may have added to investors' unease.

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