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Quick Take

• On October 18, 2022, Silvergate Capital ($SI) reported Q3’22 earnings
• $43.3mm net income for the quarter, a +12.2% gain and +84.3% gain QoQ and YoY, respectively
• $1.28 Diluted EPS for the quarter, a +13.3% gain and +45.5% gain QoQ and YoY, respectively 
• 1.677 digital currency customers as of September 30, 2022, a +5.8% gain and +28.5% gain QoQ and YoY, respectively 
• SEN processed ~$112.6bn of transfers in Q3’22, a (41%) decline and (30%) decline QoQ and YoY, respectively
• Digital asset customer fees contracted to $7.9mm for Q3’22, a (10%) decline and (2%) decline QoQ and YoY, respectively
• Shares of Silvergate closed at $54.88, a (22.5%) decline in 1-day price movements
• To date, Silvergate shares have decline (63.0%) from their $148.20 per share on January 1, 2022 

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