Examining the Failure of Silvergate: A Postmortem Analysis
The failure of Silvergate Bank is a cautionary tale for any business looking to expand into the world of digital banking. Silvergate was a digital-only bank that launched in 2018 with the goal of providing an alternative to traditional banking services. Unfortunately, the bank failed to gain traction and was forced to close its doors in 2020. In this article, we will take a look at what went wrong with Silvergate and what lessons can be learned from its failure. The first issue that led to the failure of Silvergate