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Silvergate Shares Plunge 46% as Crypto Bank Cuts 200 Jobs

Altszn.com by Altszn.com
January 5, 2023
in Blockchain, Crypto, DeFi, Web3
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Silvergate Shares Plunge 46% as Crypto Bank Cuts 200 Jobs
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The bank has also halted its plans to launch a digital currency and has written off the $196 million related to its acquisition of the technology and assets of Diem Association from Facebook parent Meta Platforms (META). Diem, formerly called Libra, was Facebook’s attempt to create a stablecoin, which is a cryptocurrency pegged to the U.S. dollar or other stable asset.

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Read More: www.coindesk.com

Tags: bankCryptoCutsDeFiJobsPlungesharesSilvergate
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