Investment firms Citadel Securities and Susquehanna Advisors Group have recently disclosed their purchase of 7.5% and 5.5% equity stakes in crypto-friendly bank Silvergate in filings with the SEC.
The position in Silvergate is not reportedly a direct investment and is caused by activity in the options market.
The company’s shares closed trading on February 14 with an increase of 18%. Over the past year, the capitalization of Silvergate has fallen by 85%.
According to MarketWatch, the bank’s shares are among the top bear priorities for players. The share of shorts in free float reached 73%.
According to the results of the fourth quarter, Silvergate lost $1.05 billion.