HomeUncategorizedMicroStrategy, Tether adds to firms distancing from Silvergate as stock dives 57% By Cointelegraph

MicroStrategy, Tether adds to firms distancing from Silvergate as stock dives 57% By Cointelegraph

March 3, 2023

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Business intelligence firm MicroStrategy and stablecoin issuer have become the latest two firms to publicly deny any meaningful exposure to Silvergate Bank.

The news comes after Silvergate announced on March 1 that it would postpone the filing of its annual 10-K financial report, which has many fearing the cryptocurrency bank may be on the brink of a bankruptcy filing.

A diagram of Silvergate’s clientele and crypto offerings. Source: Silvergate Bank
Silvergate’s change in share price index on the New York Stock Exchange. Source: MarketWatch.