Silvergate Capital (SI) Misses Q4 EPS by 22c

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Go back to Silvergate Capital (SI) Misses Q4 EPS by 22c

Silvergate Capital Corporation Announces Fourth Quarter 2022 Results

January 17, 2023 6:25 AM EST

LA JOLLA, Calif.--(BUSINESS WIRE)-- Silvergate Capital Corporation (Silvergate or Company) (NYSE: SI) and its wholly-owned subsidiary, Silvergate Bank (Bank), today announced financial results for the three and twelve months ended December 31, 2022.

Fourth Quarter 2022 Commentary

During the fourth quarter of 2022, the digital asset industry experienced a transformational shift, with significant over-leverage in the industry leading to several high-profile bankruptcies. These dynamics created a crisis of confidence across the ecosystem and led many industry participants to shift to a risk off position across digital asset trading platforms. In turn, the Company saw significant... More