Silvergate Bank 1Q19 update: Deposits down 10%, CFO departs

Silvergate Bank quietly posted an updated S1 on May 17 in preparation for its upcoming IPO as it makes headway with its digital currency initiative.

Founded in La Jolla, Calif. in 1988, Silvergate began as a traditional commercial bank, but started exploring the idea of serving the digital currency industry in 2013. After finding some recent success, Silvergate has since pivoted and is now almost entirely focused on providing banking services to cryptocurrency-related companies.

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