Wall Street May Be Losing Its Stomach for Silvergate Stock in Crypto Rout

Long a defender of Silvergate Capital, Wall Street may be losing its stomach for the  group that has positioned itself as a key banker for the cryptocurrency industry. Given the stock price has just about halved this week, that pessimism is understandable.

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(ticker: SI) plunged 43% on Thursday and were headed a further 11% lower in Friday premarket trading, bringing the stock’s performance over the past year to an eye-watering 91% loss.