Rise and Fall: Silvergate Bank's Cryptocurrency Ambitions Meet a Sobering End

A saga of ambition met a sobering finale as Silvergate Bank, once a burgeoning financial institution, voluntarily disintegrated this year, with its managements arms deep into precarious cryptocurrency deposits and accusations of familial favoritism creating a stumbling block, per findings from Federal Reserve inspectors. Silvergate Bank, which experienced a meteoric rise by embracing the risky cryptocurrency market, voluntarily ceased its operations this March, bypassing a technical failure and thereby absolving itself from compulsory paybacks to depositors. A glance back to 2013 shows a...

source: https://tokenpost.com/Silvergate-Bank-Surrenders-After-a-Risk-Laden-Journey-into-Cryptocurrencys-Depths-10766

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