Silvergate extends sell-off into 2nd day as Bank of America sees 35% downside after the crypto bank disclosed huge run on deposits

Jan 6 2023 by Business Insider

 

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BofA downgraded Silvergate Capital on Friday and said it sees another 35% downside for the crypto-focused bank.  Silvergate shares plunged Thursday after it was revealed customers withdrew billions in deposits.  BofA whittled down its price objective on Silvergate by 78% to $8 a share from $37. 

Silvergate Capital shares extended a sell-off into a second session on Friday following the crypto-focused bank's disclosure that...

Continue Reading Silvergate extends sell-off into 2nd day as Bank of America sees 35% downside after the crypto bank disclosed huge run on deposits