Shoulder Innovations, Inc. Stock Price, News & Analysis

Silvergate Capital Corporation (NYSE:SI) reported strong financial results for Q2 2021, posting a net income of $20.9 million, or $0.80 per diluted share, up from $12.7 million in Q1 2021. The Silvergate Exchange Network (SEN) facilitated a record $239.6 billion in U.S. dollar transfers, a 44% increase from Q1 2021. Digital currency customer deposits rose to $11.1 billion, a 62.4% quarter-over-quarter growth. However, total loans decreased by 8.4% compared to the previous quarter. The company completed a $300 million equity offering, generating net proceeds of $295.1 million.

Silvergate Capital Corporation (NYSE:SI) will announce its second quarter 2021 financial results on July 20, 2021, before market open. A conference call will follow at 11:00 a.m. ET. Investors can join the call by dialing 1-844-378-6480 or by accessing the webcast via the investor relations section of the Company’s website. Silvergate provides financial infrastructure solutions to the digital currency industry, focusing on real-time payment platforms like the Silvergate Exchange Network, aimed at facilitating growth and innovation in digital currency markets.

Silvergate Capital Corporation (NYSE: SI), a leading provider of financial solutions for the digital currency industry, announced participation in a fireside chat at Compass Point’s Cryptocurrency & Blockchain Day on June 24, 2021, at 12:00 p.m. ET. CEO Alan Lane, CFO Antonio Martino, and CSO Ben Reynolds will represent the company. Investors can access a live webcast through Silvergate's investor relations website, with an online replay available afterward. Silvergate's offerings, particularly the Silvergate Exchange Network, are crucial for the growth and evolution of digital currency markets.

Silvergate Capital Corporation (NYSE: SI) has appointed Michael Lempres as chairman of the board and Aanchal Gupta to its board of directors as well as Silvergate Bank. Lempres succeeds Dennis Frank, who has chaired since 1996. Lempres brings extensive experience in banking and digital currency sectors, while Gupta adds expertise in security and compliance from leading tech companies. This leadership transition is seen as pivotal for Silvergate's growth in the digital currency space, particularly with Lempres’ commitment to enhancing the bank's role in this evolving industry.

Silvergate Capital Corporation (NYSE: SI) has successfully completed its "at-the-market" equity offering program, raising $300 million from the sale of 2.79 million shares of its Class A common stock. The net proceeds of $295.5 million will support the company's growth, which has been robust, evidenced by a 38.9% increase in total consolidated assets to $7.8 billion as of March 31, 2021. Deposits from the digital currency sector have also surged, with average total digital currency deposits reaching $8.3 billion, up from $6.4 billion earlier in the quarter.

Silvergate Capital Corporation (NYSE: SI) announced a partnership with Diem Networks U.S. Inc., designating Silvergate Bank as the exclusive issuer of Diem USD, a stablecoin backed by the U.S. dollar. This initiative aims to enhance financial inclusion through a blockchain-based payment system. The stablecoin will facilitate minting and burning processes enabling VASPs to use it for consumer and merchant transactions, as well as cross-border payments. Both companies are committed to meeting regulatory standards and technological readiness as they finalize the terms for a pilot.

On April 27, 2021, Bitstamp announced that it surpassed $50 million in loan originations via Silvergate's SEN Leverage product, designed for the digital currency sector. This milestone demonstrates Bitstamp's growth and strong demand from institutional clients like Alameda Research and Amber Group. The company forecasts loan originations to exceed $250 million by year-end 2021. SEN Leverage enables trading with leverage secured by bitcoin or U.S. dollars, enhancing capital management for institutions, according to Bitstamp's leadership.

Silvergate Capital Corporation (NYSE:SI) reported a net income of $12.7 million, or $0.55 per diluted share, for Q1 2021, up from $9.1 million in Q4 2020. The Silvergate Exchange Network processed 166,772 transactions, an 84% increase from the previous quarter, amounting to $166.5 billion in transfers. Digital currency customer deposits surged to $6.8 billion. The company completed two equity offerings, raising $441.1 million. However, net interest margin declined to 1.33%, down from 2.85% in Q4 2020, while noninterest expenses rose to $19.6 million.

Silvergate Capital Corporation (NYSE:SI) will release its first quarter 2021 financial results on April 20, 2021, before market open, followed by a conference call at 11:00 a.m. ET. Investors can join the call by dialing 1-844-378-6480. A replay will be available later the same day, and an online webcast can be accessed through the investor relations section of the company's website. Silvergate is a leader in providing financial solutions for the digital currency industry, featuring its real-time payments platform, the Silvergate Exchange Network, supporting the growth of digital currency markets.