Investors in cryptocurrencies and related assets are used to dramatic price lurches, but the ones experienced Wednesday and Thursday by crypto bank Silvergate Capital (NYSE: SI) were extreme.

Thursday's decline was due largely to a disquieting report about activity in an account associated with a well-known crypto exchange. Investors reacted sharply, pushing the share price down to the point where it closed the session more than 22% lower.

In an exclusive report published Thursday morning, Reuters reporters wrote that top crypto exchange Binance had transferred large amounts of money from a Silvergate bank account it secretly controlled. The account belonged to Binance.US, an entity theoretically independent of its larger namesake company.

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Source Fool.com