Silvergate sees pain in crypto market to continue but uncertain about Bitcoin Lending
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Image Credit goes to owner Silvergate said The bear market in advanced resources hasn't finished with additional trades and crypto reserves liable to languish over a few quarters.
Silvergate said Investors should not compare the current crypto price decline to previous slumps.
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Lane said the bank will continue expanding its Bitcoin loaning, adding it is the absolute best loaning we've at any point finished.
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In May, Silvergate offered a US$205 million credit to Michael Saylor's MicroStrategy to buy more bitcoin.
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Lane said the new crypto market strife justified Silvergate as it expects borrowers to give more insurance than their credits contrasted with the market standard.
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Silvergate's second-quarter overall gain rose 85% to US$38.6 million from $20.9 million in the year-prior quarter.