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Silvergate Sinks by Record on Deposit Run, Staff Layoffs

Shares of crypto bank Silvergate Capital Corp. plunged. The company says the industry's meltdown triggered a run on deposits, prompting it to sell assets at a steep loss and fire 40% of its staff.  Silvergate held deposits for FTX units and Alameda Research, the trading firm at the heart of the crypto exchange's downfall. Su Keenan reports on Bloomberg Television. Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter:   / business   Facebook:   / bloombergbusiness   Instagram: https://www.instagram.com/quicktake/?...