{"id":1830971,"date":"2023-02-01T06:20:43","date_gmt":"2023-02-01T11:20:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1830971"},"modified":"2023-02-01T06:23:22","modified_gmt":"2023-02-01T11:23:22","slug":"blackrock-increases-stake-in-crypto-bank-silvergate-capital","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/blackrock-increases-stake-in-crypto-bank-silvergate-capital\/","title":{"rendered":"BlackRock Increases Stake in Crypto Bank Silvergate Capital"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fblackrock-increases-stake-in-crypto-bank-silvergate-capital%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1830971&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>According to a January 31 filing with Securities and Exchange Commission, BlackRock has increased its holding in Silvergate Capital. This crypto-focused bank is owned by BlackRock.<\/li>\n<li>Silvergate shares rose Tuesday afternoon.<\/li>\n<li>While Crypto has seen a solid rebound in January 2018, Silvergate shares have been on a rough start to the year.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107078936\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">After the collapse of TerraUSD, a stablecoin known as terraUSD, cryptocurrencies have come under tremendous pressure.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Umit Turhan Koskun | Nurphoto via Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>After BlackRock&#8217;s announcement of a 7% stake, Silvergate Capital surged on Tuesday afternoon.\u00a0<\/p>\n<p>Shares <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/SI\/\">Silvergate<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><\/span><\/button><\/span><\/span><\/span> rose 9.96% after <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1312109\/000130655023005093\/us82837p4081_013123.txt\" target=\"_blank\" rel=\"noopener\">a Jan. 31 filing<\/a> with the Securities and Exchange Commission became public. BlackRock increased its holding in Silvergate to 7.2%, an increase from the 5.9% it previously reported, according to the filing.\u00a0<\/p>\n<p>More than 70% of Silvergate Capital shares that are freely available to trade are sold short, according to FactSet data.<\/p>\n<p>While cryptocurrencies and related stocks have enjoyed a strong January rally this year, Silvergate has been struggling in the aftermath of the FTX blowup. Shares of the bank slid sharply November, when the crypto exchange FTX, a Silvergate customer, <a href=\"https:\/\/www.cnbc.com\/2022\/11\/15\/how-sam-bankman-frieds-ftx-alameda-empire-vanished-overnight.html\">collapsed in scandal<\/a>.<\/p>\n<p>Silvergate shares are now down about 20% in 2023. They are off by about 87% over the past year.<\/p>\n<p>Earlier this month, shares of Silvergate tanked more than 40% after the bank reported <a href=\"https:\/\/www.cnbc.com\/2023\/01\/05\/silvergate-capital-tanks-40percent-after-crypto-bank-discloses-massive-q4-withdrawals.html\">massive withdrawals in the fourth quarter<\/a> in light of the FTX collapse. Despite the rise in cryptocurrencies and stocks this month, investor confidence is still shaken.<\/p>\n<p>BlackRock, the largest asset manager in the world, has maintained a positive stance toward crypto and blockchain technology. In addition to being <a href=\"https:\/\/www.cnbc.com\/2023\/01\/10\/ftx-investors-included-robert-kraft-paul-tudor-jones-new-filings.html\">an investor in FTX<\/a>, late last summer the firm launched a private trust to give clients <a href=\"https:\/\/www.cnbc.com\/2022\/08\/11\/blackrock-launches-a-private-trust-to-give-clients-exposure-to-spot-bitcoin.html\">exposure to spot bitcoin<\/a>.<\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/4db8932b7ac3e84e3f64.svg\" class=\"WatchLiveRightRail-logo\" alt=\"logo\"   style=\"display:none\"><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to a January 31 filing with Securities and Exchange Commission, BlackRock has increased its holding in Silvergate Capital. This crypto-focused bank is owned by BlackRock. Silvergate shares rose Tuesday afternoon. While Crypto has seen a solid rebound in January 2018, Silvergate shares have been on a rough start to the year. After the collapse &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1899581,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[5373,7002,9554,6987,8489,13787,3831],"class_list":["post-1830971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-bank","tag-blackrock","tag-capital","tag-crypto","tag-increases","tag-silvergate","tag-stake"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1830971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1830971"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1830971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1899581"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1830971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1830971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1830971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}