According to CoinDesk, crypto-friendly bank Silvergate Capital will post a net loss attributable to shareholders of $1 billion in the fourth quarter of 2022, compared with net income of $18 million in the same period in 2021 and net losses in the third quarter of 2022. Revenue was $40.6 million. Last quarter's losses ultimately left Silvergate Capital with a full-year loss of about $949 million, compared with net income of $75.5 million for 2021. In early January 2023, the Wall Street Journal reported that crypto-friendly bank Silvergate had processed $8.1 billion in run-on withdrawals following the FTX crash. In mid-January, Silvergate Capital revealed that it had taken a $196 million impairment charge in the fourth quarter of 2022, taking into account the value of the intellectual property and technology it acquired from Diem Group early last year. This revised figure represents a 98% loss compared to the $200 million paid to acquire the assets.