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Cedears suffered widespread declines and one company tanked as much as 14%

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The actions of Silvergate Capital marked their second day with heavy losses on the New York Stock Exchange, due to the increased short selling activity in recent days.

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It should be noted that the bank comes from reporting a net loss of US$1 billion in the fourth quarter of 2022 and a 68% decline in cryptocurrency-related depositsresulting in liquidation of assets and loss of $8.1 billion in deposits.

For his part, coinbase unveiled the presentation of your balance sheet for the fourth quarter. Although the cryptocurrency company beat the forecasts of the experts on profit and income, the truth is that Transaction revenue fell 12% from the prior three-month figures.

In addition, revenues lost almost 75% compared to the previous year. The company also posted a net loss (unadjusted) of $557 million, a year after generating net income of $840 million during the peak of cryptocurrency adoption.

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For its part, Wall Street ended the day with scattered indices, having spent most of the day rising slightly and in response to the minutes of the meeting of the Federal Reserve (Fed, central bank) in favor of raising interest rates

The Dow Jones index lost 0.25% and the expanded S&P 500 index 0.15%, while the Nasdaq -which is made up mainly of technology- gained 0.13%, according to provisional data from the New York Stock Exchange.

Source: Ambito

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