Silvergate crisis: Crypto industry majors drop embattled lender

A slew of cryptocurrency heavyweights including Coinbase Global Inc and Galaxy Digital ditched Silvergate Capital Corp (SI.N) as their banking partner after the lender’s latest filing raised questions about its ability to stay in business.

Shares of the crypto-friendly bank have lost nearly 98% in value from their record close in November 2021.

Read more: Reuters