Leading lender to major crypto firms Silvergate Capital Corporation’s (SI) stock plunged sharply after the company announced that it would wind down operations and liquidate its subsidiary Silvergate Bank, citing “recent industry and regulatory developments.” This announcement comes after the news that SI requested more time to file its annual financial report.
With SI facing exacerbating liquidity and regulatory challenges, investors are increasingly betting against the stock. With extremely high short interest levels, let’s find out if SI has joined the meme stock club.
