While falling cryptocurrency prices and FUD following the collapse of cryptocurrency exchange FTX put pressure on Silvergate Capital, some financial institutions appear to be bullish on crypto banking.
According to the US Securities and Exchange Commission documents disclosed on January 31, global asset management giant BlackRock (BlackRock) has increased its stake in encryption-friendly bank Silvergate Bank, and its current shareholding ratio has reached 7.2%.
According to relevant documents, BlackRock holds 2,285,197 shares of Silvergate Bank, and has been increasing its holdings in the past two years. The volume increased to 1,871,537 shares (accounting for 6.30%).
According to previous news, Silvergate laid off 40% of its employees in early January, and then announced on January 27 that it would suspend dividend payments to shareholders to maintain liquidity.