Silvergate reports $1bn loss

Silvergate reports $1bn loss
Photo by Robert Bye / Unsplash

California-based cryptocurrency bank Silvergate has released  its year-end report. It reported a recorded loss of $949 million, while Silvergate posted a net profit of $75.5 million in 2021.

The company's shares fell 2.9% on this news. They have lost almost 90% of their value in the last 12 months.

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