Short-sellers rake in $780 million betting against Silvergate as the crypto-friendly bank closes its doors

Tech Insider : Crypto
Crypto
Bitcoin illustration

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Troubled crypto bank Silvergate sees regulators swoop in to try to help it stay afloat

Tech Insider : Crypto
Crypto coins
Crypto coins

(Photo by Jakub Porzycki/NurPhoto via Getty Images)

Bitcoin falls to its lowest price in weeks as crypto markets tumble amid Silvergate troubles

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Bitcoin offices in Istanbul, Turkey on June 21, 2022.
Bitcoin offices in Istanbul, Turkey on June 21, 2022.

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Coinbase, Gemini and other big crypto names have rushed to ditch Silvergate after the bank warned of building troubles

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Image of crypto exchange apps
Coinbase, Kraken and other crypto apps.

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George Soros' fund reveals it's betting against Silvergate as the crypto-friendly bank is probed over its ties to FTX

Tech Insider : Crypto
George Soros
George Soros.

REUTERS/Yuri Gripas

Silvergate shares tumble as the crypto bank's ties to FTX come under a probe by the DOJ's fraud squad

Tech Insider : Crypto
Sam Bankman-Fried
Sam Bankman-Fried in federal court in Manhattan.

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Silvergate's ties to FTX are under scrutiny by US senators who say the crypto bank was 'evasive' in earlier inquiries

Tech Insider : Crypto
Sen. Elizabeth Warren
SEPTEMBER 20: U.S. Sen. Elizabeth Warren (D-MA) arrives for a Senate Banking, Housing, and Urban Affairs Committee on Russian sanctions, on Capitol Hill, September 20, 2022 in Washington, DC. The Committee held the hearing to discuss additional sanctions against Russia for its invasion of Ukraine.

Kevin Dietsch/Getty Images

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