Silvergate Capital
Silvergate Capital was a La Jolla-based bank holding company (NYSE: SI, delisted) whose Silvergate Bank subsidiary provided business checking, Brokered CDs, and cash-handling services to cryptocurrency exchanges, miners, and digital asset firms before winding down following the FTX collapse.
- Company typePublic
- Founded1988
- HeadquartersLa Jolla, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Silvergate Capital does
Silvergate Capital Corporation was a publicly traded bank holding company (NYSE: SI, since delisted) that operated through its California-chartered banking subsidiary, Silvergate Bank, headquartered at 4250 Executive Square, Suite 300, La Jolla, California. Founded in 1988, the company repositioned into a niche banking franchise serving the digital asset and innovation economy, providing business banking services — including business checking accounts, Brokered Certificates of Deposit (Brokered CDs), and Cashier's Checks — to cryptocurrency exchanges, miners, market makers, and other crypto-related businesses via the Silvergate Banking Platform.
The bank's revenue model was built on traditional commercial banking mechanics: net interest income from a deposit-heavy balance sheet funded by crypto-sector deposits, supplemented by fee-based services on its real-time payments network for digital asset clients. The company attracted strategic capital from Digital Currency Group ($114 million, February 2018) and Block.one, and disclosed funding totalling roughly $147 million across rounds in 2015, 2018, and 2022, signaling industry validation of its crypto-bank positioning. Its customer base was heavily concentrated in a single vertical — "Business & Crypto" — making it the de facto correspondent bank for a meaningful share of US digital asset firms.
Following the November 2022 collapse of FTX and Alameda Research, Silvergate suffered significant cryptocurrency-related losses and was accused of aiding and abetting FTX/Alameda conduct. The company failed to file its 10-K report, suffered a 57.72% single-day stock decline, and was subsequently delisted. A court approved a $10 million class-style settlement in 2025 for FTX-linked investors (over 46,000 potential claimants). Operations have been wound down: outstanding Cashier's Checks were remitted to the California State Controller on June 29, 2023, and account verification requests ceased after June 30, 2023.
Silvergate Capital firmographics
Firmographics- Name
- Silvergate Capital
- Legal name
- Silvergate Bank
- Website
- https://silvergatebank.com
- Company type
- Public
- Founded year
- 1988
- Operating status
- Closed
- Headcount range
- 101–250 employees
- Short description
- Silvergate Capital was a La Jolla-based bank holding company (NYSE: SI, delisted) whose Silvergate Bank subsidiary provided business checking, Brokered CDs, and cash-handling services to cryptocurrency exchanges, miners, and digital asset firms before winding down following the FTX collapse.
- Ownership category
- akta.pro rank
Silvergate Capital industry classification
Industry- Product category
- Commercial Banking
- NAICS
- Commercial Banking (52211), Commercial Banking (522110)
- SIC
- State Commercial Banks (6022), Commercial Banks, Nec (6029)
- akta.pro primary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
- akta.pro secondary industry
- Digital Retail Banking (Online & Mobile) (FSABAAAF)
Keywords
Where Silvergate Capital is headquartered
LocationHeadquarters
- HQ city
- La Jolla
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Silvergate Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Others, Operations, Personnel, Infrastructure
Silvergate Capital product offering
Product offeringCore offering
Silvergate Capital, through Silvergate Bank, provided commercial banking services to entrepreneurs and digital-asset / cryptocurrency-related businesses. Its product set centered on business checking accounts, Brokered Certificates of Deposit (Brokered CDs), and Cashier's Checks, delivered via a Business Banking Center in La Jolla, California and supported through digital banking channels.
Product overview
Silvergate Bank operates a banking platform serving entrepreneurs and businesses, including cryptocurrency-related companies. The company offers business banking services including checking accounts, Brokered Certificates of Deposit (Brokered CDs), and Cashier's Checks. The bank maintains a Business Banking Center in La Jolla, California, and provides services through digital banking channels.
Differentiator
Problem solved
Functional benefit
Products and services
- Silvergate Banking Platform Commercial banking platform offering business checking accounts, Brokered Certificates of Deposit (Brokered CDs), and Cashier's Checks, serving entrepreneurs and crypto-related businesses via a Business Banking Center in La Jolla, California, and digital banking channels.
- Business Checking Accounts Standard commercial checking account product for business customers, including those in the cryptocurrency and innovation sector.
- Brokered Certificates of Deposit (Brokered CDs) Brokered Certificates of Deposit sold via brokers, remaining active until maturity per agreement, then remitted according to agreement terms.
- Cashier's Checks Bank-issued Cashier's Checks; outstanding items were transferred to the California State Controller as part of the bank's wind-down.
Companies that use Silvergate Capital
Customer profileSegments1 record
Ideal customer profiles1 record
Silvergate Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Silvergate Capital partnerships and signals
Strategic signalScale indicators2 records
Recent moves7 records
Expansion highlights5 records
Silvergate Capital competitors and assessment
Company assessmentDirect peers
- Signature Bank: New York-based commercial bank that built a digital-asset banking business through Signet, servicing crypto exchanges and stablecoin issuers; collapsed in March 2023 under regulator action in the same crypto-banking sweep that caught Silvergate.
- Metropolitan Commercial Bank: Publicly listed New York community/commercial bank that became a leading crypto-friendly banking partner (Bittrex, Galaxy Digital); comparable to Silvergate in serving exchanges, stablecoin issuers, and crypto businesses with deposit and treasury rails.
- Customers Bank: Pennsylvania-chartered commercial bank that grew deposits from fintech and crypto-related businesses; comparable to Silvergate as a mid-tier commercial bank with concentrated digital-asset client exposure.
- Cross River Bank: New Jersey state-chartered digital-first bank offering API-driven banking-as-a-service and lending to fintechs and crypto-adjacent firms; comparable to Silvergate in targeting tech-forward and digital-asset-adjacent commercial clients.
Emerging players
- Custodia Bank: Special-purpose, crypto-focused state-chartered digital asset bank pursuing a Fed master account; directly comparable to Silvergate's intended niche as a federally engaged digital-asset depository, though it never reached Silvergate's scale.
- Anchorage Digital: Federally chartered digital asset bank (OCC trust charter) providing custody, trading, and settlement for institutional crypto clients; overlaps with Silvergate's crypto-institutional banking focus and was a beneficiary post-collapse.
- Galaxy Digital: Institutional crypto financial services and investment firm providing trading, lending, and treasury solutions to crypto businesses; comparable to Silvergate as a counterparty serving the same institutional digital-asset client base.
Broad incumbents
- JPMorgan Chase: Large diversified US commercial bank with growing digital-asset services (Onyx, JPM Coin, blockchain collateral) that absorbed displaced crypto-banking demand after Silvergate and Signature's collapses.
Others
- Circle Internet Group: USDC stablecoin issuer that historically relied on Silvergate-managed settlement rails (the Silvergate Exchange Network); directly affected by Silvergate's wind-down and a key counterparty shaping the digital-asset banking landscape.
- Coinbase: Major US crypto exchange that used Silvergate's banking rails for USD funding and corporate treasury; directly comparable as a Silvergate banking customer and a current shaper of institutional crypto-banking demand.
Market position
Strengths2 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights3 records
Customer concentration
Silvergate Capital social profiles
Digital presenceSilvergate Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Silvergate Capital leadership team
Management profileNumber of profiles
Profiles5 records
Silvergate Capital funding detail
Funding detailFunding overview
Funding rounds5 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Silvergate Capital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Silvergate Capital
What does Silvergate Capital do?
Silvergate Capital, through Silvergate Bank, provided commercial banking services to entrepreneurs and digital-asset / cryptocurrency-related businesses. Its product set centered on business checking accounts, Brokered Certificates of Deposit (Brokered CDs), and Cashier's Checks, delivered via a Business Banking Center in La Jolla, California and supported through digital banking channels.
Is Silvergate Capital a public or private company?
Silvergate Capital is a public company. It is classified as public and is currently closed.
When was Silvergate Capital founded?
Silvergate Capital was founded in 1988. It employs 101 to 250 people.
Where is Silvergate Capital based?
Silvergate Capital is headquartered in La Jolla, United States, in the North America region.
Who are Silvergate Capital's main competitors?
Direct peers on record are Signature Bank, Metropolitan Commercial Bank, Customers Bank and Cross River Bank. Emerging players are Custodia Bank, Anchorage Digital and Galaxy Digital. JPMorgan Chase is listed as a broad incumbent. Others are Circle Internet Group and Coinbase.
Does Silvergate Capital have an API?
No public API is recorded for Silvergate Capital.
What industry is Silvergate Capital in?
Silvergate Capital's product category is Commercial Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABAAAF, Digital Retail Banking (Online & Mobile). Its NAICS code is 52211 and its SIC code is 6022.