តារាងពេលវេលាដ៏ទូលំទូលាយនៃការដួលរលំរបស់ Silvergate

Silvergate marketed itself as a crypto-friendly banking services provider but, unsurprisingly, it ended up providing financial services to firms that នាក់ once the world’s second-largest crypto exchange and market-maker: FTX and Alameda Research.

As the world has discovered the reality behind Silvergate’s business, investors have progressively sold off shares as they dropped from their $238 November 2021 heights to under $13 today. Not only that, even Senators are ការសាកសួរ Silvergate regarding inappropriate transfers of FTX customer funds into Sam Bankman-Fried’s trading fund, Alameda.

“Your bank’s involvement in the transfer of FTX customer funds to Alameda reveals what appears to be an egregious failure of your bank’s responsibility to monitor for and report suspicious financial activity carried out by its clients,” wrote senators Roger Marshall, Elizabeth Warren, and John Kennedy in a letter to Silvergate.

The senators are also demanding that Silvergate release all relevant records and want it to “answer a set of questions to provide the public a full accounting of its relationship with FTX and Alameda.”

With Silvergate’s reckoning still playing out, below is a timeline of events that led up to and hastened the company’s collapse.

អាន​បន្ថែម: MicroStrategy និង Silvergate គឺជាភាគហ៊ុនគ្រីបតូខ្លីបំផុតនៅឆ្នាំ 2022

Historical timeline of Silvergate

ខែសីហា 17, 2017: Silvergate passes $1 billion in total deposits.

ខែកុម្ភៈy 26, 2018: ស៊ីលហ្គេត raises $114 million in a common stock sale.

ខែវិច្ឆិកា 16, 2018: HomeStreet Bank acquires Silvergate’s business lending team and retail branch in San Marcos, California.

ខែតុលា 28, 2019: Silvergate opens its initial public offering of Class A common stock.

ខែវិច្ឆិកា 12, 2019: Silvergate closes its IPO of Class A common stock.

ខែវិច្ឆិកា 18, 2019: Silvergate announces the closing of its underwriters’ option to purchase additional shares.

ខែមករា 14, 2020: ស៊ីលហ្គេត launches Silvergate Exchange Network (SEN)ដែលជា ចម្រូង​ចម្រាស់ system for moving funds between Silvergate accounts 24/7.

ខែមករា 21, 2020: Silvergate hires Benjamin Richman as senior vice president and director of digital currency.

ខែមិថុនា 16, 2020: Silvergate expands SEN, which provides access to US dollar loans using bitcoin as collateral.

ខែតុលា 6, 2020: Silvergate completes $100 billion worth of transfer volumes across SEN.

ខែតុលា 26, 2020: Silvergate discloses $586 million in digital asset-related deposits.

ខែមករា 26, 2021: Silvergate closes a follow-on public offering of Class A common stock.

ខែមីនា 9, 2021: Silvergate opens an at-the-market sale of Class A common stock.

ខែមីនា 29, 2021: Silvergate selects Fidelity Digital Assets as a custody provider for SEN Leverage.

ខែកក្កដា 7, 2021: Silvergate hires Elliptic to provide KYC/AML services during customer onboarding.

ខែមេសា 20, 2021: Silvergate files Q1 2021 earnings.

ថ្ងៃទី 12 ខែ ឧសភា ឆ្នាំ 2021: Silvergate announces deal to be the exclusive issuer of Diem’s stablecoin.

ថ្ងៃទី 18 ខែ ឧសភា ឆ្នាំ 2021: Silvergate announces completion of an at-the-market equity offering.

ខែកក្កដា 28, 2021: Silvergate announces pricing of a planned $200 million depositary share offering.

ខែតុលា 27, 2021: Silvergate announces its virtual appearance at Bank of America’s Securities 2021 Banking and Financials Conference.

ខែតុលា 29, 2021: Silvergate CEO Alan Lane says Silvergate Capital processed more than $160 billion in digital asset-related transfers in Q3 2021, a 300% increase over Q3 2020.

ខែវិច្ឆិកា 11, 2021: Analysts at JP Morgan give Silvergate Capital an ‘overweight’ rating and say the stock could increase by 60%.

ខែវិច្ឆិកា 22, 2021: Shares of Silvergate trade to their all-time high of $239 per share which has never been subsequently surpassed.

ខែ​ធ្នូ 6​, 2021: ស៊ីលហ្គេត តម្លៃ a public offering of Class A common stock.

ខែ​ធ្នូ 9​, 2021: Silvergate closes its Class A common stock public offering.

ខែ​ធ្នូ 16​, 2021: In an appearance on CNBC’s Squawk on the Streets, នាយក​ប្រតិបត្តិ Alan Lane calls rising interest rates good for Silvergate Capital’s earnings.

ខែ​ធ្នូ 16​, 2021: Silvergate and EJF Capital launch a fintech joint venture fund.

ខែមករា 12, 2022: Michael Perito of KBW discusses upgrading Silvergate Capital to an ‘outperform’ rating during an appearance on CNBC’s អាហារពេលព្រឹក.

ខែមករា 18, 2022: Alan Lane estimates that any Federal Reserve-backed digital currency is likely still years away.

ខែមករា 27, 2022: Facebook’s Diem Association sells assets, including intellectual property, to Silvergate. Diem had planned to release its own stablecoin but Mark Zuckerberg was called into Senate testimony, and Diem ran into numerous obstacles, regulatory issues, and questions from members of Congress.

ខែកុម្ភៈ 2, 2022: Silvergate says it will use the Diem Association assets it acquired from Meta to launch its own stablecoin. Alan Lane said Silvergate will attempt to convince former Diem Association members to support its stablecoin.

ខែកុម្ភៈ 15, 2022: Silvergate adds support for euros to SEN.

ខែមីនា 29, 2022: MicroStrategy takes out a $205 million loan from Silvergate. It puts up $820 million in bitcoin as collateral. MicroStrategy says it will use the money to buy more bitcoin.

ខែមេសា 19, 2022: Silvergate releases Q1 2022 earnings, beating analysts’ estimates by 75%. Stocks jump by 13%.

ខែមេសា 26, 2022: Silvergate CEO Alan Lane discusses helping MicroStrategy use its bitcoin as collateral for a loan to buy more bitcoin during an appearance on Bloomberg’s Crypto Reports.

ខែមិថុនា 1, 2022: Silvergate CEO Alan Lane appears on Bloomberg podcast ច្រើនសេស to discuss stablecoins in the wake of the Terra Luna collapse.

ខែមិថុនា 13, 2022: Wells Fargo calls Silvergate a buy opportunity despite bearish digital asset markets.

ខែមិថុនា 16, 2022: Alan Lane denies being surprised by volatility in digital asset markets during an appearance on CNBC’s TechCrunch.

ខែកក្កដា 19, 2022: Silvergate reports that digital asset-related deposits remained sturdy in Q2 2022 despite a downturn in markets.

ខែតុលា 25, 2022: Silvergate launches 24/7 customer support.

ខែវិច្ឆិកា 7, 2022: Silvergate promotes Ben Reynolds to president and hires Kate Fraher as chief risk officer.

ខែវិច្ឆិកា 10, 2022: Bank of America downgrades Silvergate Capital stock, citing uncertainty in digital asset markets.

ខែវិច្ឆិកា 11, 2022: Silvergate publishes a statement saying that FTX accounted for less than 10% of account holders’ deposits.

ខែវិច្ឆិកា 16, 2022: Silvergate publishes a mid-quarter update and announces plans to participate in Oppenheimer’s fifth Blockchain & Digital Assets Summit.

ខែវិច្ឆិកា 18, 2022: Alan Lane discusses the impact of the FTX situation on Silvergate and the overall digital asset market on CNBC’s អាហារពេលព្រឹក.

ខែវិច្ឆិកា 28, 2022: Sam Bankman-Fried admitted that FTX-related user deposits were routed through Alameda Research’s bank account at Silvergate.

ខែវិច្ឆិកា 28, 2022: ស៊ីលហ្គេត denies having any outstanding loans to BlockFi. It describes its exposure to BlockFi as “តិចតួចបំផុត"។

ខែវិច្ឆិកា 30, 2022: Alan Lane discusses the digital asset bear market on CNBC’s Squawk នៅលើផ្លូវ.

ខែ​ធ្នូ 5​, 2022: Senators Elizabeth Warren, Roger Marshall, and John Kennedy send a letter to Silvergate requesting records of FTX’s fund transfers.

ខែ​ធ្នូ 13​, 2022: Lumida CEO Ram Ahluwalia and former hedge fund manager Marc Cohodes debate the potential impact of FTX’s bankruptcy on Silvergate Capital on the ផតខាស់ដែលគ្មានការត្រួតពិនិត្យ.

ខែ​ធ្នូ 21​, 2022: Silvergate CEO Alan Lane responds to queries from senators, saying that job performance issues were not a factor in his son-in-law’s move away from his position as Silvergate’s chief risk officer.

ខែមករា 4, 2023: Judge John Dorsey orders the seizure of FTX funds held in a Silvergate bank account.

ខែមករា 5, 2023: Silvergate lays off 40% of its staff amid a steep decline in its stock price. Depositors ដក $8.1 billion from Silvergate accounts. Moreover, Silvergate reportedly កើតឡើង a $718 million loss while selling $5.2 billion worth of reserves to satisfy some of those withdrawal requests.

In addition, ARK Invest បង្ហាញ selling $5 million in Silvergate Capital stock, and publicly-traded Marathon Digital បង់ down a $30 million revolving line of credit at Silvergate Capital. This frees up 3,615 bitcoin it had posted as collateral.

ខែមករា 6, 2023: JP Morgan downgrades Silvergate Capital stock from ‘overweight’ to ‘neutral’ and adjusts its price target from $30 to $14. On the same day, Alan Lane បដិសេធ having any loans or investments in FTX in a letter to investors. He accuses short sellers of spreading “speculation” and “misinformation.”

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