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Why Silvergate Capital Sank in January

Why Silvergate Capital Sank in January

Shares of Silvergate Capital (NYSE: SI) fell 18.2% in January, according to data from S&P Global Market Intelligence. The bank and financial services provider is still reeling from the FTX scandal that rocked the cryptocurrency markets in late 2022, which had a relationship with Silvergate. Silvergate is down 82% over the past six months, making it one of the worst-performing stocks in the United States over that timespan.