Silvergate Capital Sinks on Plans to Wind Down And Liquidate (2)

(Updates with inventory and peer transfer.)

Silvergate Capital nosedives up to 53% in post-market buying and selling Wednesday after pronouncing plans to wind down operations and voluntarily liquidate the financial institution. Silvergate pared losses to -22% after the preliminary drop.

• “In mild of latest business and regulatory trends, Silvergate believes that an orderly wind down of financial institution operations and a voluntary liquidation of the financial institution is the most efficient trail ahead,” it mentioned in a commentary
• The financial institution’s wind down and liquidation plan contains complete reimbursement of all deposits
• The corporate could also be making an allowance for how easiest to get to the bottom of claims and keep the residual …