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Tribune News Service
Tribune News Service
Business
Mike Freeman

RARE PHOTOS: Silvergate capital faces questions from lawmakers amid ftx crypto exchange collapse c8cb7c5d 221f 4120 8b3d 2f23b6ad6b94 | Vintage Vibes

San Diego's Silvergate Capital made its name in recent years as one of a few traditional banks providing deposit, fund transfer, security and other services for the cryptocurrency trading market.

But two-high profile crypto-exchange bankruptcies — one of which is alleged to involve fraud — have sent the small financial institution's shares reeling, and drawn the scrutiny of lawmakers.

Silvergate's stock price has plunged 88 percent from a 12-month peak of $162.87 last December, trading at $18.80 midday Tuesday on the New York Stock Exchange.

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