So far, 2023 has been a mixed bag for stock investors, with ups and downs reflecting the depth of uncertainty on Wall Street. Amid pessimistic predictions for the economy, stocks have thus far been relatively resilient overall, but they haven't been able to put together the beginning-of-the-year rally that so many market participants have been impatient to see. Thursday morning didn't bring any clear direction, with futures contracts on stock indexes mixed in the premarket session.

The cryptocurrency market also suffered big declines in 2022, with investors hoping for a rebound in the coming year. However, the fallout from recent events has continued to hurt stocks in the industry. Silvergate Capital (NYSE: SI) reported just how hard it had to work to deal with the rapidly changing situation, and investors are more uncertain than ever about what the crypto-focused bank's future will look like and its potential impact on the entire digital asset market.

Shares of Silvergate plunged 40% in premarket trading on Thursday morning, losing twice as much ground as they gained in Wednesday's trading session. The bank's release of preliminary fourth-quarter financial metrics and a business update sent chills up shareholders' spines, given the sheer size of asset movements during the past several months.

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Source Fool.com