Silvergate Capital filed for Chapter 11 bankruptcy in Delaware. 📉
- Assets: $100M-$500M, liabilities: $10M-$50M.
- Plans: full payment of administrative fees and taxes, cancellation of shares and claims.
- Reasons: liquidity, rising interest rates, regulatory pressure after the collapse of FTX.
In March 2023, Silvergate announced voluntary liquidation due to problems in the banking system.