Why SI Silvergate Capital Corporation Collapsed ? If you haven`t bought puts here:
Then you should know that last week, Silvergate's stock plunged by up to 45% following the company's announcement that it would delay filing its annual report due to ongoing investigations by various regulatory bodies, including the U.S. Department of Justice.
This led major players in the crypto industry, including Coinbase and Paxos, to sever ties with Silvergate.
The second largest bank serving digital assets companies, Silvergate, announced that it would wind down its operations on March 8.
Analysts attributed the decline to a loss of trust in the crypto industry following the FTX meltdown, as well as concerns raised by short sellers primarily on Twitter.
Silvergate primarily serviced cryptocurrency firms, including FTX, which ultimately failed.
I am still bearish on the outlook of this stock!
Looking forward to read your opinion about it!
Cryptobank
SI Silvergate Capital Corporation Options Ahead of EarningsLooking at the SI Silvergate Capital Corporation options chain ahead of earnings , I would buy the $12 strike price Puts with
2023-1-20 expiration date for about
$1.05 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Bitcoin Group $ADE tripled EBITDA, sales revenues up 153%September 30, 2020
Bitcoin Group SE publishes semi-annual report 2020 - dynamic growth despite challenging environment
Sales revenues increase sharply by more than 153% to EUR 6,228 thousand
EBITDA more than tripled to EUR 4,177 thousand (previous year: EUR 1,231 thousand)
Management confirms all forecasts
Herford, September 30, 2020 -
Bitcoin Group SE (ISIN DE000A1TNV91) today presented figures for the first half of 2020. Despite a challenging environment in the wake of the corona pandemic, the group of companies recorded strong growth. Sales amounted to EUR 6,228 thousand compared to EUR 2,455 thousand in the first half of 2019. At the same time, Bitcoin Group SE recorded a significant increase in earnings before interest, taxes, depreciation and amortization (EBITDA) from EUR 1,231 thousand in the same period of the previous year by 239 percent to EUR 4,177 thousand first half of 2020. Earnings before interest and taxes (EBIT) improved from EUR 4,228 thousand in the first half of 2019 to EUR 5,042 thousand at the end of June 2020. As a result, earnings per share rose significantly to EUR 0.70 in the first six months of 2020 compared with 0.57 euros in the same period last year. This corresponds to a growth of 22.8 percent.
Bitcoin.de - the cryptocurrency trading center operated by the 100 percent subsidiary Bitcoin Deutschland AG - recorded strong customer interest throughout the reporting period . The number of users grew from 840,000 at the end of 2019 to 884,000 in the first half of 2020. An average of 7,333 new customers per month opted for the extensive services of Bitcoin.deto use. After a temporary weak phase in the Bitcoin price at the peak of the corona-related lockdown, however, it recovered significantly over the course of the reporting period. The Bitcoin price was quoted at EUR 8,142.56 at the end of the first half of 2020, well above the 2019 year-end level of EUR 6,516.03 and roughly at pre-crisis level. Both the positive developments in key cryptocurrencies and the success in acquiring new customers ensured increased trading volumes on Bitcoin.de and an overall successful first half of 2020 for Bitcoin Group SE.
The company continues to work with full commitment on diversifying its business model. This includes the resolution passed outside the reporting period to merge Bitcoin Deutschland AG with futurum bank AG to increase the value. With this integration measure, Bitcoin Group SE can strengthen its offering in the group as a cryptocurrency trading center and custodian and offer its customers an even better service from a single source. The aim is to make the crypto marketplace accessible to institutional and corporate customers in the future. In this way, Bitcoin Group SE opens up new sales potential and customer groups.
“The business development in the first half of 2020 makes us satisfied and optimistic. Satisfied above all because we have shown that we can and will assert ourselves with our strategy even under challenging market conditions. The steadily increasing number of users underscores the reliability and attractiveness of our service portfolio, which we are now also opening up to institutional investors. We are expanding our position step by step - on behalf of our customers and shareholders, ”says the managing director of Bitcoin Group SE, Marco Bodewein.
The management confirms the forecasts made for the full year 2020. With regard to the positive development in new customer acquisition, the company expects a total of 900,000 registered users for the full year. Consistent to sharply increasing sales and positive earnings before interest, taxes, depreciation and amortization (EBITDA) are expected.
The 2020 half-year report is available for download as a PDF document on bitcoingroup.com in the publications area.
