Silvergate Capital SI -2.62% is in crisis mode after the crypto bank warned about its ability to “continue as a going concern.” The disclosure, made in a securities filing late Wednesday, sent its stock crashing 55% on Thursday to around $6 a share. The disclosure also raised questions about the future of crypto companies’ relationships with banks; liquidity in the token market; and whether anyone could step into Silvergate ‘s (ticker: SI) shoes if the company doesn’t survive its latest crisis of confidence.
I am in ATM bear spreads from 15ish. https://www.elitetrader.com/et/threads/my-lv-meetup.372894/page-2#post-5772607
I'm still holding onto my Nov 9th, 2022 HOOD $1000. trade. 11 business days left...That's all I need!! See the old post... So I am looking at Robinhood drop late in the afternoon. I am trying to figure out if we'll see a soft landing after Crypto Bankman-Gets-Fried. What will happen to HOOD...He has a 7.5 stake in Robinhood?? How and when will those shares get disposed of? Have they mostly been sold? Just a big??? Anyways...I pulled the trigger. I bought 100 shares of HOOD (in Roth IRA) at $8.48. I then did a covered call for the Mar 23 $1.41 ($141.00) at $9... I know I have bad mouthed HOOD for years. Their disaster with oil futures, not filling orders, no customer service...I get it. But at a price this cheap...I wanted in. Again I am talking about a trade of less than $1,000. CURRENT: Think I'll do a put to protect my dinky profit... But with time decay, it should be fine... But Crypto could implode any minute... But it's only $1000... But a bird in the hand ($5% CD)... AAAHHHH... Like Conan trying to do ads...
I don't see any mention of this on reputable financial websites? Where do you see it? Lemme guess, a twitt said so.
One of key crypto objectives is to remove central bank control and printing(devaluation). Privacy: Minimize collection of personal information, and maximize financial transaction privacy https://bitcoin.design/guide/getting-started/principles/ Cannot have a cake and eat it. Having not audit trail, then how to monitor and trace rogue transaction?