Silvergate Capital отчиталась о финансовых результатах «дочки» Silvergate Bank за четвертый квартал 2022 года. The net loss of the digital-asset-focused institution stood at $1.05 billion.
The firm cited a “transformational shift” in the industry tied to several high-profile bankruptcies.
“This dynamic has created a crisis of trust across the ecosystem and led many participants to shift to risk-free positions among digital-asset trading platforms,” the press release said.
In this environment, Silvergate Bank faced deposit outflows and took a number of steps to bolster liquidity. The company initially tapped wholesale funding, then sold debt securities. Among other measures were cost reductions and staff cuts.
Key metrics for the quarter relative to Q3 included:
- The net loss was $1.05 billion versus $40.6 million in net income;
- The number of digital-asset clients declined from 1,677 to 1,620;
- The volume of transfers through the Silvergate Exchange Network rose from $112.6 billion to $117.1 billion — a 4% increase;
- Obligations under the SEN Leverage program fell from $1.5 billion to $1 billion;
- Net fees from crypto-related services declined from $7.9 million to $6.6 million;
- The average deposits per institutional client declined from $12 billion to $7.3 billion.
“We believe in the digital asset industry and remain focused on delivering additional services for our core institutional clients. To this end, we intend to maintain a highly liquid balance with a strong capital position,” said Silvergate CEO Alan Lane.
Earlier in December filed a class-action lawsuit against Silvergate for the alleged role in transferring user deposits from FTX to Alameda Research accounts.
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