{"id":724826,"date":"2023-01-20T16:33:26","date_gmt":"2023-01-20T21:33:26","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/silvergate-provides-statement-on-limited-exposure-to-genesis\/"},"modified":"2023-01-20T16:33:26","modified_gmt":"2023-01-20T21:33:26","slug":"silvergate-provides-statement-on-limited-exposure-to-genesis","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/silvergate-provides-statement-on-limited-exposure-to-genesis\/","title":{"rendered":"Silvergate Provides Statement on Limited Exposure to Genesis"},"content":{"rendered":"

<\/p>\n

\nSilvergate Provides Statement on Limited Exposure to Genesis\n<\/p>\n

LA JOLLA, Calif.–(BUSINESS WIRE<\/a>)–
\nSilvergate Capital Corporation (the “Company” or “Silvergate”) (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced a business update in connection with the recently announced bankruptcy filing by Genesis Global Holdco, LLC and its subsidiaries Genesis Global Capital LLC and Genesis Asia Pacific PTE LTD (collectively, “Genesis”).\n<\/p>\n

\nSilvergate’s deposit relationship with Genesis was less than $2.5 million as of both December 31, 2022 and January 19, 2023. Genesis is not a custodian for Silvergate\u2019s bitcoin-collateralized SEN Leverage loans and Silvergate has no outstanding loans to nor investments in Genesis.\n<\/p>\n

\nWhile this continues to be a turbulent time in the digital asset industry, Silvergate’s exposure to Genesis is minimal and customers\u2019 deposits are, and have always been, safely held.\n<\/p>\n

About Silvergate<\/b><\/p>\n

\nSilvergate Capital Corporation (NYSE: SI) is the leading provider of innovative financial infrastructure solutions and services for the digital asset industry. The Company\u2019s real-time payments platform, known as the Silvergate Exchange Network, is at the heart of its customer-centric suite of payments, lending and funding solutions serving digital asset companies and investors around the world. Silvergate is enabling digital asset markets and reshaping global commerce for a digital asset future.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230120005474\/en\/<\/a><\/span><\/p>\n

Investor Relations:
\n<\/b>
Edelman Smithfield for Silvergate
\n
(858) 200-3782
\n
investors@silvergate.com
\n<\/a><\/p>\n

Media:
\n<\/b>
Edelman Smithfield for Silvergate
\n
press@silvergate.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Payments Technology Finance Software Digital Cash Management\/Digital Assets<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
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Silvergate Provides Statement on Limited Exposure to Genesis LA JOLLA, Calif.–(BUSINESS WIRE)– Silvergate Capital Corporation (the “Company” or “Silvergate”) (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced a business update in connection with the recently announced bankruptcy filing by Genesis Global Holdco, LLC and its subsidiaries Genesis Global Capital LLC and Genesis Asia Pacific PTE LTD (collectively, “Genesis”). Silvergate’s deposit relationship with Genesis was less than $2.5 million as of both December 31, 2022 and January 19, 2023. Genesis is not a custodian for Silvergate\u2019s bitcoin-collateralized SEN Leverage loans and Silvergate has no outstanding loans to nor investments in Genesis. While this continues to be a turbulent time in the digital … <\/p>\n

Continue reading “Silvergate Provides Statement on Limited Exposure to Genesis”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-724826","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSilvergate Provides Statement on Limited Exposure to Genesis - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/silvergate-provides-statement-on-limited-exposure-to-genesis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silvergate Provides Statement on Limited Exposure to Genesis - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Silvergate Provides Statement on Limited Exposure to Genesis LA JOLLA, Calif.–(BUSINESS WIRE)– Silvergate Capital Corporation (the “Company” or “Silvergate”) (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced a business update in connection with the recently announced bankruptcy filing by Genesis Global Holdco, LLC and its subsidiaries Genesis Global Capital LLC and Genesis Asia Pacific PTE LTD (collectively, “Genesis”). Silvergate’s deposit relationship with Genesis was less than $2.5 million as of both December 31, 2022 and January 19, 2023. Genesis is not a custodian for Silvergate\u2019s bitcoin-collateralized SEN Leverage loans and Silvergate has no outstanding loans to nor investments in Genesis. 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