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News Explorer — Silvergate Capital Reveals Layoffs With 230 Jobs Cut

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May 11, 3:28 pm
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Silvergate Capital Reveals Layoffs With 230 Jobs Cut

Silvergate Capital announced on Thursday that it will significantly reduce its headcount, leaving only 80 employees to manage the liquidation of its crypto-friendly bank. The company has sold all of its debt securities and has funds in excess of what is needed to repay depositors. Silvergate's closure was felt throughout the digital assets industry, but was overshadowed by the following tumult among other banks.

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