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tintweezl

tintweezl on Hacker News

Re: on Tuesday July 07, 2026 @09:38PM (#48826413)
Consider the donut.

Drink the double waters.

Listen to consider the donut https://on.soundcloud.com/KTkrP9HY4WGm8LCA9q

Re:D B Smith says "Einstein dead" and releases full stack of revolutio... on Wednesday March 25, 2026 @02:18PM (#47521174)
In that case I encourage you to demonstrate this sloppiness and point out the weaknesses in the paper.

Oh, one caveat: don't use AI to do it. That would be a bit disingenuous.

Silvergate Bank “Ghost Assets” = More Shareholder Value

Posted by tintweezl on Monday April 17, 2023 @03:00AM
from the self-post dept.

On January 17, Silvergate Capital Corporation (NYSE: SI) held a conference call to report unaudited, preliminary results from operations for the fiscal year ending December 31, 2023.In that report they reported a net loss of $1B in the fourth quarter. While that loss was widely reported as being due to expenses incurred by selling treasuries before their maturity date, that only explains $718M...

( Read More... | no comments | on HN )
Re:U.S. FDIC tells Signature crypto clients to close accounts by April 5 on Saturday April 01, 2023 @12:27PM (#35401545)
A way to do it, not saying this is their model I haven't looked into Custodia at all. But just for the sake of argument, would be to start out capitalized with X amount of cash which would allow 12.5X in deposits to be fully covered. As fees are generated and/or stock issued and sold, more deposits could be accepted. If this model were competing with traditional 10% margin banks, it might well be supported by stockholders due to its ability to withstand runs a priori.
Re:U.S. FDIC tells Signature crypto clients to close accounts by April 5 on Saturday April 01, 2023 @12:09PM (#35401387)
If you look at the timeline vis-a-vis Silvergate Capital, this does look very suspicious, possibly a Chokepoint 2.0

Timeline:

Nov 11: FTX/Alameda file BK.

Nov 28: Sen Warren, retired Sen Marshall send letter to Silvergate requesting all records relating to FTX. BlockFi files BK.

Dec 5: Deposits fall from $12B to $3.8B. Silvergate sells treasuries at $718M loss and take out FHLB loan for $4.3B to remain solvent and fully offramp depositors.

Dec 31: Silvergate reports 4Q loss of $1B.

Jan 5: Judge in FTX BK orders seizure of FTX assets at Silvergate.

Feb 8: DOJ announces investigation into Silvergate role in FTX AML/KYC failures.

Feb 14: Sen Warren-friendly Citadel reports 5.5% stake in Silvergate. In June Ken Griffin, CEO, announced he might like to be a crypto market maker.

Mar 1: Silvergate announces delay in annual report, says may not be able to stay in business.

Mar 2: Coinbase, Galaxy Digital drop Silvergate.

Mar 7: Silvergate says forced to pay $4.3B FHLB loan early which was the final nail in its coffin.

Mar 8: Silvergate announces liquidation although still solvent with assets exceeding liabilities of over $1B. Still, shares drop to $2 and a $48M market cap.

Mar 10: FHLB issues press release specifically denying it forced early repayment but "no comment" on whether usually automatic roll-forwards granted routinely were specifically excluded for Silvergate despite oral assurances they would be granted.

Mar 24: Silvergate stock doubles on rumors Citadel wants to acquire assets.

Mar 31: Sen Warren seen smiling while reading article on crypto bank collapses.

You be the judge...