Silvergate's late reporting to SEC - FUD of 2023 or fact?

Traders discussion corner
1

After the bankrupt of FTX, and Genesis in 2022, the market of crypto is tending to be more vulnerable to FUD, in which a small signal could make a significant drop to crypto market. Coinbase is the big player refuse to be related to Silvergate. The late reporting to SEC for Q1/2023 is creating some concern for crypto investors. What do you know and think about this issue.
silvergate-nyse

https://twitter.com/coinbase/status/1631284093378756611?s=20

For those who want to know about Silvergate:

Silvergate is a financial institution that provides banking services to digital currency companies and other innovative businesses. The company was founded in 1988 and is based in La Jolla, California.

Silvergate is known for its Silvergate Exchange Network (SEN), which is a network that enables real-time transfers of U.S. dollars between digital currency exchanges and institutional investors. The network is designed to provide fast and reliable access to liquidity for digital currency trading.

In addition to its SEN, Silvergate offers a range of other banking services, including deposit accounts, wire transfers, and ACH transfers. The company is publicly traded on the New York Stock Exchange under the ticker symbol SI.

#BitforumNetwork #Silvergate #CryptoDiscussion #Bitcoin2023. #SocialFi

2

As at 9 March 2023, Silvergate is entering the voluntary liquidation (BREAKING: Silvergate Bank Enters Voluntary Liquidation | Alexandria); and on a bright-side users’ deposits would be returned in full. From the point of views of Bitforum Network, the obstacle of Silvergate could not cause a big negative impact to crypto market as the collapses of Luna and FTX in 2022.