💰 Silvergate saw boom in crypto clients in Q4 – with startup deposits surging

Crypto focused bank Silvergate, which maintains accounts for exchanges Gemini and Coinbase, announced the listing of 59 new institutions and firms in Q4 2018. The new additions brings the total up to 542. The collective account balance is down 8% since September but up 11.7% since 2017. This growth is mostly attributable to startup deposits which have quadrupled from $46.4 million to $273.9 million.

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