Silvergate Capital's Troubles Continue as Stock Falls 10% on Monday
Shares of Silvergate Capital (NYSE: SI) fell as much as 10.2%, once again, on Monday morning as the crypto industry continues to unearth new risks. This time, it's a U.S. investigation into Binance caught the industry off guard.
Shares recovered slightly late in the day but were still down 5.2% at 2:20 p.m. ET.
Multiple news outlets reported this morning that the U.S. Department of Justice has an ongoing criminal probe into Binance, the world's largest crypto exchange. This is on top of Binance failing to pass what's being called an audit of its reserves, although auditors only had limited access to information.
Source Fool.com
