Silvergate (SI) Struggles After Delaying Annual Report

Silvergate Capital (SI) has delayed its annual report and is evaluating its ability to continue as a growing concern. Jeff Pierce joins Alex Coffey and Jenny Horne to discuss this SI news. He talks about how SI tumbles after delaying annual report. He notes that Coinbase (COIN) is among the cryptocurrency companies that stopped using Silvergate. He highlights that SI is down over 60% this week. He goes over how SI's asset sales to maintain liquidity during bank run could leave it "less than well-capitalized." Finally, he mentions how bitcoin and Ethereum futures drop following this SI news. Tune in to find out more about the stock market today.