The bankruptcy of FTX produces its first collateral damage in traditional finance. Listed on the New York Stock Exchange, the Californian bank Silvergate saw its share price fall by more than 40% on Thursday following the publication of partial results. Its customers made withdrawals of 8.1 billion dollars at the end of the year, which left only 3.8 billion in assets in the bank as of December 31 last. In December, Silvergate was suspected by US senators of having failed in its controls when it received funds belonging to customers of the FTX cryptocurrency platform, created by Sam Bankman-Fried, which went bankrupt on December 11.
