DFX Intelligence
Which companies just had a verified incident, who lends to them and who owns them. Every claim carries its evidence level and its source. How we decide what is confirmed
Global Financial Service Disruptions
Silvergate Bank (Silvergate Exchange Network)
commercial bank · US · North America · Silvergate Bank
Liquidity or solvencyStatus: resolvedTier 1Severity 4 of 5Evidence confidence: highAnalyst-verified
Silvergate Bank discontinued its Silvergate Exchange Network effective immediately on 3 March 2023, calling it a risk-based decision. The bank announced voluntary liquidation on 8 March 2023.
- First disruption
- Mar 3
- First public signal
- unknown
- Acknowledged
- Mar 3
- Restored
- resolved, time unknown
- Duration
- not established
- DFX first recorded
- Nov 5 14:58 UTC
What was restricted
instant paymentstransfers outtransfers inScope: single service
24/7 SEN transfers between institutional investors and crypto exchanges discontinued; Paxos, Circle, Bitstamp, Gemini and Cboe Digital suspended their partnerships.
Cause, kept in separate layers
- What the institution said
- 'Risk-based decision' after going-concern doubts; wind-down announced 8 Mar 2023
- DFX classification
- Liquidity or solvency (cyber: unconfirmed)
- Wording used
- risk-based decision, all other deposit-related services remain operational