{"id":75318,"date":"2023-03-10T10:45:14","date_gmt":"2023-03-10T08:45:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75318"},"modified":"2025-09-10T10:56:03","modified_gmt":"2025-09-10T07:56:03","slug":"block-one-sells-stake-in-silvergate-bank","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/block-one-sells-stake-in-silvergate-bank\/","title":{"rendered":"Block.one sells stake in Silvergate Bank"},"content":{"rendered":"

On March 8, the EOS<\/a>-backed company Block.one \u043e\u0431\u044a\u044f\u0432\u0438\u043b\u0430<\/a> the sale of Silvergate Bank’s shares.<\/p>\n

\n

\u201cAlthough we are disappointed with this outcome, we remain confident that banks and other financial institutions operating in the digital asset and cryptocurrency sectors have good opportunities to use technology to expand the reach of both traditional financial services and the growing digital asset economy,\u201d the statement said.<\/p>\n<\/blockquote>\n

The company explained that they exited the position after the postponement<\/a> of Silvergate Capital Corporation’s deadlines for filing its annual report with the SEC<\/span> and the closure<\/a> of the SEN<\/span> payment network.<\/p>\n

In the autumn of 2022 Block.one and its co-founder Brendan Blumer acquired, respectively, 9.3% and 7.5% of the bank’s shares<\/a> in a digital-asset-friendly bank.<\/p>\n

In February 2023, it emerged that U.S. authorities are investigating the link<\/a> between Silvergate Bank and the victims of the FTX and Alameda Research collapse<\/a>. Moody’s downgraded the bank’s rating<\/a> due to a deterioration of its baseline credit assessment.<\/p>\n

Major crypto firms such as Tether, Galaxy Digital, Paxos, Gemini, Coinbase and Bakkt distanced themselves<\/a> from the organisation.<\/p>\n

As reported on March 8, Silvergate Capital Corporation \u043e\u0431\u044a\u044f\u0432\u0438\u043b\u0430<\/a> its intention to wind down operations and liquidate the bank.<\/p>\n

Karine Jean-Pierre, the White House spokesperson, said that the Biden administration is monitoring the situation around Silvergate<\/a> and cryptocurrency companies.<\/p>\n","protected":false},"excerpt":{"rendered":"

On March 8, Block.one, the EOS project-backed company, announced the sale of Silvergate Bank’s shares.<\/p>\n","protected":false},"author":1,"featured_media":75319,"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":[1850,1683],"class_list":["post-75318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-block-one","tag-silvergate-bank"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75318","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=75318"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75318\/revisions"}],"predecessor-version":[{"id":75320,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75318\/revisions\/75320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/75319"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=75318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=75318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=75318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}