Silvergate Sells Assets at a Loss, Cuts Workforce to Cover $8.1 Billion in Withdrawals: Report
Silvergate has reportedly laid off 200 staff members, or approximately 40% of its total number of employees.
![Silvergate sold assets at a loss and downsizes to cover $8.1 billion in withdrawals: Report](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-01/70440beb-f7ac-4635-8851-1c91df1c3cbd.jpg)
![Silvergate Sells Assets at a Loss, Cuts Workforce to Cover $8.1 Billion in Withdrawals: Report](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvNzA0NDBiZWItZjdhYy00NjM1LTg4NTEtMWM5MWRmMWMzY2JkLmpwZw==.jpg?#)
Silvergate has reportedly laid off 200 staff members, or approximately 40% of its total number of employees.
![Silvergate sold assets at a loss and downsizes to cover $8.1 billion in withdrawals: Report](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-01/70440beb-f7ac-4635-8851-1c91df1c3cbd.jpg)
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