According to Foresight News, according to CoinDesk, crypto-friendly bank Silvergate Capital had a net loss attributable to shareholders of $1 billion in the fourth quarter of 2022, compared with net income of $18 million in the same period of 2021 and net income of $40.6 million in the third quarter of 2022. Last quarter's losses ultimately led to Silvergate Capital's full-year loss of approximately $949 million, compared with net income of $75.5 million in 2021.

In early January 2023, the Wall Street Journal reported that crypto-friendly bank Silvergate had processed $8.1 billion in run withdrawals following the FTX collapse.

In mid-January, Silvergate Capital revealed that it had recorded an impairment charge of $196 million in the fourth quarter of 2022, writing down the value of intellectual property and technology acquired from Diem Group early last year. The revised figure represents a 98% loss compared to the $200 million it paid to acquire the assets.