Silvergate Capital Lays Off 40% Of Workforce
Layoffs announced after Silvergate Bank takes $8B hit related to failure of cryptocurrency trader FTX.
Layoffs announced after Silvergate Bank takes $8B hit related to failure of cryptocurrency trader FTX.
Company tells SEC it will reduce its workforce by 515 positions.
CEO says iBuying business will lose up to $26 million this year.
Around 100 staff members were laid off, according to a source that works for the company.