According to Financefeeds, Silvergate Capital, the parent company of crypto-friendly bank Silvergate, has filed for Chapter 11 bankruptcy protection in the Delaware Bankruptcy Court in the United States. The bankruptcy filing shows that the company has assets between $100 million and $500 million and liabilities between $10 million and $50 million. In March 2023, Silvergate Capital announced that it would voluntarily liquidate its subsidiary Silvergate Bank, citing challenges in the banking industry due to rising interest rates and regulatory scrutiny following the bankruptcy of crypto exchange FTX in November 2022. In July of this year, Silvergate Capital reached a settlement with the U.S. SEC, the Federal Reserve, and the California Department of Financial Protection and Innovation (DFPI) and agreed to pay $63 million.