Why Shiba Inu Is Falling Sharply
Shiba InuSHIB/USD is trading lower by roughly5.02% to $0.00001050 during Thursday's session. The broader cryptocurrency market is experiencing marked weakness asSilvergate Capital Corp'splanned liquidation has weighed on banks with crypto exposure.
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So What's Going On With Silvergate?
Silvergate shares are plunging and taking crypto down with it Thursdayafter thecompany saidit will wind down operations and voluntarilyliquidate Silvergate Bank. Several top cryptocurrencies are selling off alongsidethe crypto-linked company.
Silvergate'sliquidation planincludes full repayment of all deposits. The company alsosaid it'sconsidering how best to resolve claims and preserve the residual value of its assets.
According to data fromBenzinga Pro, SHIBhas a 52-week high of $0.000007197 and a 52-week low of $0.00002977.
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