Citadel Securities Acquires Stake in Silvergate Bank

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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.

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