Silvergate begins NYSE delisting process as it readies to cut 230 staff By Cointelegraph


© Reuters.

The parent company of the collapsed Silvergate Bank will be delisted from the New York Stock Exchange, and 230 of its staff will be let go, Silvergate Capital (NYSE:) has disclosed.

In a May 11 filing to the United States Securities and Exchange Commission, Silvergate Capital said 230 staff will be “separated” starting May 12. The NYSE also suspended trading in its stock, with delisting to commence “shortly.”

A year-to-date chart of Silvergate Capital’s share price shows a nearly 93% price drop since the start of 2023. Source: Google (NASDAQ:) Finance

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