Bitcoin, ether fall after go-to crypto bank Silvergate announces liquidation
Posted on AllSides March 9th, 2023
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Crypto prices fell on Thursday after Silvergate, a bank that has been at the center of the industry’s growth, made a decision to shut down.
Bitcoin dipped 2% to $21,570.04, according to Coin Metrics. Ether lost nearly 2% and was last trading at $1,527.58.
The slight move lower began late Wednesday, a few hours after Silvergate Capital announced it will wind down operations and liquidate its crypto-friendly bank.
The relatively small size of the move indicates that cryptocurrency investors priced the news in last week when the company first warned it may not be able...
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