Is Cathie Wood Still Invested In Troubled Crypto-Linked Silvergate Stock?

The collapse of Sam Bankman-Fried‘s FTX cryptocurrency exchange appears to have further legs to play out as the crypto-friendly Silvergate Bank, which is owned by Silvergate Capital Corp. (NYSE: SI) and lent heavily to the exchange, is now in troubled waters.

What Happened: Silvergate Capital announced this week that it was voluntarily liquidating the bank’s operations after raising doubts about its ability to continue as a going concern in an SEC filing on March 1.

See Also: Best Financial Services Stocks To Buy

Against the backdrop of these adverse developments, at least one fund manager can heave a sigh of relief for its prescience.

Cathie Wood’s Ark Invest, which took a position in Silvergate Capital in November 2020, a year after the company went public, once held …

Full story available on Benzinga.com

Read More

Tags

Share this post:

JOIN THE HYVE

Gain insights, receive dynamic opportunities directly to your inbox. Sign up now…