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🦧 delaying earnings

www.wiseape.fyi

🦧 delaying earnings

Ape of Omaha
Mar 3
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🦧 delaying earnings

www.wiseape.fyi

StockAlgos

"one of the best, affordable stock research platforms that hosts stock picking competitionsā€

😢 feeling unconfident

  • silvergate capital (SI 0.00), the parent company of silvergate bank (a crypto lender), announced that it is delaying its earnings

  • silvergate capital told the sec that it will not be able to file its 10-k (annual filing for 2022) by march 16

 
 

ā“ what’s happening?

  • major crypto companies (i.e. coinbase, galaxy digital, circle, paxos, bitstamp, etc.) "stopped accepting or initiating payments to or from silvergate"

  • silvergate filed on wednesday that it is "currently analyzing certain regulatory and other inquiries and investigations"

    • a.k.a. selling additional securities beyond what was previously anticipated = potentially unabe to meet its liquidity standards

 
 

šŸ’£ the aftermath

  • SI 0.00 sank more than 55% on thursday and is down 67% ytd as of writing

  • bitcoin's down 6% in the past two days

  • other relevant tickers like COIN 0.00 (coinbase) sank 10% briefly on thursday, but has recovered since then

 
 

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šŸ’” something im thinking about

snapchat is launching ā€œmy aiā€, running the latest version of chat gpt (click image)

as always, i’m no financial advisor! (i’m no substitute for professional financial services)
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🦧 delaying earnings

www.wiseape.fyi
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