Marc Cohodes Predicts Closure of Silvergate Bank

03/05/2023 01:47 • Crypto & Markets • 61 views

It is reported that Marc Cohodes, a short investor who has been short of Silvergate since last year, said that Silvergate Bank is expected to close within a week. Cohodes said, “I would be very surprised if Silvergate Bank opened next week”.

Silvergate short: Silvergate Bank is expected to close within one week

Interpretation of the news:

Marc Cohodes, a well-known short investor, has made headlines by predicting the closure of Silvergate Bank. According to reports, Cohodes had been shorting Silvergate Bank since last year and expressed his disbelief that the bank would be able to open within a week. Cohodes is known for his accuracy in making financial predictions and his comments have created a buzz in the investment community.

Silvergate Bank is a California-based bank that primarily serves the cryptocurrency industry. The bank has been lauded for its role in providing financial services to the rapidly growing blockchain industry. However, Cohodes’ prediction has raised questions about the bank’s future.

The reason for Cohodes’ prediction is not clear, but it is speculated that he may have uncovered information that suggests the bank is in trouble. Cohodes is known for his extensive research and experience in shorting stocks. In the past, he has successfully predicted the downfall of several companies, including Valeant Pharmaceuticals and Home Capital Group.

The news of Silvergate Bank’s potential closure has caused concern among the cryptocurrency community. The bank is one of the few banks that provides services to cryptocurrency companies, which are often shunned by traditional banks. The closure of Silvergate Bank could make it even harder for cryptocurrency companies to access banking services, which could further hinder the growth of the industry.

However, it is important to note that Cohodes’ prediction may not come true. It is possible that he is mistaken or that the bank will be able to overcome any challenges it may be facing. Investors should exercise caution and wait for more information before making any decisions.

In conclusion, Marc Cohodes’ prediction of the closure of Silvergate Bank has created a stir in the investment community. While it is important to consider the potential impact of such a closure, investors should also be cautious and wait for further information before making any decisions.

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Marc Cohodes Predicts Closure of Silvergate Bank

Silvergate short: Silvergate Bank is expected to close within one week

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