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Why Shares of Silvergate Capital Are Falling Today

Bram Berkowitz, The Motley Fool
·2 min read
Why Shares of Silvergate Capital Are Falling Today

Shares of the crypto bank Silvergate Capital (NYSE: SI) had fallen roughly 10% as of 11:25 a.m. EDT after the company reported earnings results for the third quarter of the year. The bank has built a payments platform called the Silvergate Exchange Network (SEN), which allows two parties on the network to clear transactions instantaneously. This is particularly attractive for institutional traders and cryptocurrency exchanges because cryptocurrencies trade nonstop.

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