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Why Silvergate Capital Stock Plummeted Today

·2 min read
Why Silvergate Capital Stock Plummeted Today
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Silvergate Capital (NYSE: SI) stock suffered significant sell-offs in Friday's trading. Silvergate provides banking services to leading cryptocurrency exchanges, and its stock price often trades in line with moves for the broader cryptocurrency market. With Bitcoin (CRYPTO: BTC) and other leading digital tokens undergoing steep sell-offs today, the fintech company's share price was dragged lower by the trend.