Silvergate Is in Talks With FDIC Officials on Ways to Salvage Bank
- Examiners have been on the ground since last week, people said
- A decision on Silvergate’s future hasn’t yet been made
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US regulators have been sent to the headquarters of Silvergate Capital Corp., as the troubled crypto-friendly bank looks for a way to stay in business.
Federal Deposit Insurance Corp. officials have been discussing with management ways to avoid a shutdown, according to people familiar with the matter. One possible option involves lining up crypto-industry investors to help Silvergate shore up its liquidity, said one of the people. FDIC examiners arrived at the firm’s La Jolla, California, offices last week, the people said.