US bank Silvergate hit with $8bn in crypto withdrawals
Over $8 billion (£6.7 billion) of cryptocurrency-linked deposits have been removed by customers of US bank Silvergate, which offers cryptocurrency services. During the final three months of 2022, about two-thirds of the bank’s clients withdrew their deposits. To fund the expense and maintain its liquidity, the bank liquidated $5.2 billion in assets. A warning from…