{"id":72660,"date":"2023-01-17T19:33:46","date_gmt":"2023-01-17T17:33:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72660"},"modified":"2025-09-09T09:38:14","modified_gmt":"2025-09-09T06:38:14","slug":"silvergate-bank-posts-a-1-05-billion-quarterly-loss-for-q4-2022","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/silvergate-bank-posts-a-1-05-billion-quarterly-loss-for-q4-2022\/","title":{"rendered":"Silvergate Bank posts a $1.05 billion quarterly loss for Q4 2022"},"content":{"rendered":"<p>Silvergate Capital <a href=\"https:\/\/ir.silvergate.com\/news\/news-details\/2023\/Silvergate-Capital-Corporation-Announces-Fourth-Quarter-2022-Results\/default.aspx\">\u043e\u0442\u0447\u0438\u0442\u0430\u043b\u0430\u0441\u044c<\/a> \u043e \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0445 \u0440\u0435\u0437\u0443\u043b\u044c\u0442\u0430\u0442\u0430\u0445 \u00ab\u0434\u043e\u0447\u043a\u0438\u00bb Silvergate Bank \u0437\u0430 \u0447\u0435\u0442\u0432\u0435\u0440\u0442\u044b\u0439 \u043a\u0432\u0430\u0440\u0442\u0430\u043b 2022 \u0433\u043e\u0434\u0430. The net loss of the digital-asset-focused institution stood at $1.05 billion.<\/p>\n<p>The firm cited a &#8220;transformational shift&#8221; in the industry tied to several high-profile bankruptcies.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;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,&#8221; the press release said.<\/p>\n<\/blockquote>\n<p>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.<\/p>\n<p>Key metrics for the quarter relative to Q3 included:<\/p>\n<ul class=\"wp-block-list\">\n<li>The net loss was $1.05 billion versus $40.6 million in net income;<\/li>\n<li>The number of digital-asset clients declined from 1,677 to 1,620;<\/li>\n<li>The volume of transfers through the Silvergate Exchange Network rose from $112.6 billion to $117.1 billion \u2014 a 4% increase;<\/li>\n<li>Obligations under the SEN Leverage program fell from $1.5 billion to $1 billion;<\/li>\n<li>Net fees from crypto-related services declined from $7.9 million to $6.6 million;<\/li>\n<li>The average deposits per institutional client declined from $12 billion to $7.3 billion.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;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,&#8221; said Silvergate CEO Alan Lane.<\/p>\n<\/blockquote>\n<p>Earlier in December <a href=\"https:\/\/forklog.com\/en\/news\/silvergate-bank-faces-class-action-suit-over-ftx-and-alameda-research\">filed a class-action lawsuit<\/a> against Silvergate for the alleged role in transferring user deposits from FTX to Alameda Research accounts.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Silvergate Capital reported the results of its subsidiary Silvergate Bank for Q4 2022. The digital-asset-focused institution posted a net loss of $1.05 billion.<\/p>\n","protected":false},"author":1,"featured_media":72661,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,83,1683],"class_list":["post-72660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-business","tag-silvergate-bank"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=72660"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72660\/revisions"}],"predecessor-version":[{"id":72662,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/72660\/revisions\/72662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/72661"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=72660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=72660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=72660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}