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Silvergate Bankrupt!! What it Means For Crypto!Silvergate � Silvergate had tons of deposits from crypto firms: $ billion of deposits at the end of September, most of them not paying. The cryptocurrency-focused US lender Silvergate is to wind down its operations after it was hit by customer withdrawals following the. With crypto's rise and traditional banks' hesitance to work with the volatile sector, Silvergate had established itself as one of the most.