The 3 Most Important Takeaways From Silvergate Capital's Q3 Report
The cryptocurrency-centric bank Silvergate Capital (NYSE: SI) reported a mixed bag of results for the third quarter on Tuesday.
On a positive note, its earnings per share hit a record level of $0.88. However, usage of its Silvergate Exchange Network (SEN) platform declined. SEN, a real-time payments platform, allows parties on the network to clear transactions instantly, which comes in handy for institutional cryptocurrency investors and exchanges. The quantity of transfers on SEN dropped from nearly $240 billion in Q2 to about $162 billion in Q3.
But I found Silvergate's Q3 earnings conference call to be much more interesting than the report's raw numbers, as it partially answered several questions that will be much more important for the bank's overall long-term outlook. Here are the three most important things I learned from the earnings report and the conference call.
Source Fool.com
