Investors betting against Silvergate have made about $780 million in mark-to-market profits since November 2021, when its stock peaked,
The once go-to bank for the crypto industry was hit hard by the digital-asset rout and the fallout of Sam Bankman-Fried-founded FTX's collapse. The stock was down 46% at $2.65 in premarket trading Thursday, having peaked at over $200 during the height of the crypto boom in 2021.
Cleared $62m shorting Silvergate. Binance next.
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