Silvergate Capital’s crypto-to-fiat transfers decrease by $50B compared to Q3 2021

[Google News Bot]

On Oct. 18, Silvergate Capital, a crypto-fiat gateway network designed for financial institutions, announced its financial results for Q3 2022. The bank, known for services such as processing consumer fiat deposits to cryptocurrency exchanges, saw transfer volume on the Silvergate Exchange Network plummet close to $50 billion compared to Q3 2021. Silvergate handled $112.6 billion of such transfers in Q3 2022. It appears that investors were less than satisfied with the results. Silvergate’s share price listed on the U.S. NASDAQ exchange fell by close to 22% at the time of publicati ...

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