Silvergate is turning into an actual crypto financial institution and that ought to fear legacy banks. 

We first wrote about Silvergate Financial institution after they introduced their pre IPO spherical by the Witter Household Workplace (not by the standard VC Funds). The Witter identify ought to ring a bell with finance people as the cash got here from Mr. Dean Witter and the agency that bears his identify (a part of Morgan Stanley since 1997).

Since then this darkish horse neobank has been a frequent news-maker:

• – their inventory value (SI) has carried out properly since IPO. Examine that to the opposite public crypto inventory Coinbase (COIN). At IPO, SI left cash on desk so many might make cash after which did a secondary elevate.

• Silvergate made information with their Diem deal. Will probably be fascinating to see what they do with this know-how. For our evaluation on the time, please click on right here. 

To see all our posts referencing Neobanks see this tag record.

To see all our posts referencing Silvergate, see this tag record.

Silvergate perhaps acquired by huge tech or a legacy financial institution; their valuation remains to be low sufficient to make this possible.

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