Shares of crypto-friendly lender Silvergate Capital (SI) plunged 45% early Thursday on questions about its survival due to losses and numerous regulatory issues that have arisen following November's FTX exchange collapse.
In volatile action in the minutes following the opening bell, Silvergate shares were trading at $7.38 at press time.
In a filing late Wednesday, the California-based bank said it needed more than two additional weeks to finish producing its annual report, and said the impact of recent events raises questions about its ability to continue as a "going concern."
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