And then, on March 9, 2023, the market learned of the liquidation of Silvergate Bank () and was informed of major troubles at Silicon Valley Bank ().

Source: https://seekingalpha.com/article/4586747-what-recent-market-action-fundamentally-means?source=feed_all_articles

Following the news of Silvergate Capital and the liquidations that occurred on March 2 through to March 3, Bitcoin is down 4.5%; however, Bitcoin mining stocks are bucking the trend.

Source: https://biztoc.com/x/2af48e8ae1ec8f7e?ref=ff

In March, the rapid shut-down of Silicon Valley Bank (), Silvergate Capital (), and Signature Bank (), along with the take-under of 166-year-old Credit Suisse (), stoked concerns about the health of the banking system.

Source: https://seekingalpha.com/article/4606540-appleseed-fund-2023-semi-annual-letter?source=feed_all_articles

None more than Silvergate that saw its assets jump from $2.3 billion in Q1 2020 to $15.8 billion ten quarters later.

Source: https://seekingalpha.com/article/4586792-banks-force-fed-chair-powells-hand-after-svb-debacle-big-implications?source=feed_all_articles

On March 8, 2022, once the extent of depositor panic became public, Silvergate voluntarily closed its doors.

Source: https://qz.com/the-fastest-bank-run-in-us-history-was-sparked-by-crypt-1850630102

See related article: Bybit suspends U.S. dollar bank transfers, possible link to Silvergate shuttering crypto banking…

Source: https://biztoc.com/x/2927a58191133aab?ref=ff

Silicon Valley Bank had $15 billion in outstanding loans from the San Francisco FHLB as of Dec. 31, 2022, and Silvergate owed $4.3 billion to the same bank.

Source: https://www.politico.com/news/2023/04/14/government-backed-lenders-provided-30b-to-three-failed-banks-lawmakers-want-to-know-why-00091065

Silvergate Capital assures that this move is intended to help the company preserve capital.

Source: https://investorplace.com/2023/01/why-is-silvergate-si-stock-down-today/

Stocks making the biggest moves midday: Silvergate Capital, Salesforce, Macy's, Okta and morecnbc.

Source: https://biztoc.com/x/c783de3172d2f9e9?ref=ff

The agreement compels Silvergate to assist with the investigation.

Source: https://fortune.com/crypto/2023/06/01/federal-reserve-orders-defunct-crypto-bank-silvergate-wind-down/

The digital asset tumbled after a slew of controversies hit the cryptocurrency market, including the Commodity Futures Trading Commission's lawsuit against Binance alleging that it violated US trading laws and the of crypto-friendly bank Silvergate.

Source: https://krdo.com/news/2023/04/03/stocks-bounced-back-in-the-first-quarter-but-its-too-early-to-celebrate/

The SVB collapse, along with Signature Bank and Silvergate Capital, is the worst financial crisis to hit the US since the failure of the Washington Mutual Fund in 2008 during the start of the US financial meltdown.

Source: https://www.canindia.com/bring-back-you-money-new-silicon-valley-bank-ceo-urges-depositors/

Two other U.S. lenders - Signature Bank and Silvergate Bank - have also collapsed in recent days.

Source: https://gazette.com/news/us-world/eu-says-silicon-valley-bank-collapse-has-limited-impact-on-bloc/article_841fccae-7239-57ed-a29d-490c7360c92b.html

US federal regulators this past weekend also shut down and took over California-based Silvergate Capital Bank, which provided services for those using cryptocurrency.

Source: https://www.jewishpress.com/news/us-news/us-banking-shares-plummet-at-stock-exchange-open/2023/03/15/

Wells Fargo & Company reduced their price objective on shares of Silvergate Capital from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 15th.

Source: https://www.etfdailynews.com/2023/01/01/gladstone-institutional-advisory-llc-acquires-shares-of-3327-silvergate-capital-co-nysesi/

"What happened to everyone talking about how banks (SVB, Silvergate) are safe and better than Crypto DEFI?" tweeted US investor Arjun Sethi.

Source: https://www.channelnewsasia.com/business/silicon-valley-bank-failure-worry-tech-start-ups-3341376?cid=cna_flip_070214