Shares of Silvergate Capital (NYSE: SI) sank 36.6% in December, according to data from S&P Global Market Intelligence. The bank, which focuses on serving the cryptocurrency industry, is facing increasing pressure from customers, lawyers, and the government over its connection with the disgraced cryptocurrency exchange FTX, which was a depositor at Silvergate. 

Things have been going poorly for the bank in recent months. After soaring as much as 1,000% in 2021 and early 2022, shares of the bank are now down 85% in the past three months. 

The finance world was rocked in early November, when it was revealed that Sam Bankman-Fried had been funneling customer deposits from his cryptocurrency exchange, FTX, to try to make up for gigantic losses at his hedge fund, Alameda Research. The theft is estimated to be upwards of $8 billion and went toward a variety of things, including paying for lavish real estate properties. Now he's in custody and awaiting trial.

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Source Fool.com