Last week, Silvergate informed the SEC that it was evaluating its ability to operate as a going concern, disclosing that it had sold additional debt securities this year at a loss. The company added that further losses mean the bank could be "less than well capitalized." In the most recent quarter, Silvergate experienced losses of $886 million from selling underwater securities, resulting in its crypto-related deposits falling by 68% quarter on quarter from $11.9 billion to $3.8 billion. A U.S. bankruptcy judge has ordered Silvergate to release $9.9 million to crypto lender BlockFi.