Crypto bank Silvergate Capital has announced that it is winding down its operations and liquidating its assets.
"In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the Bank is the best path forward," the company said in a news release. "The Bank’s wind down and liquidation plan includes full repayment of all deposits. The Company is also considering how best to resolve claims and preserve the residual value of its assets, including its proprietary technology and tax assets."
The company's primary role was in helping large investors navigate the crypto space, moving their money in and out of crypto exchanges. It also operated its own exchange, called the Silvergate Exchange Network, which shut down last week.
The bank struggled with liquidity issues as the broader crypto space declined over the past year. These market headwinds combined with regulatory pressure to eventually make the bank's situation untenable.
It is one of the few non-crypto firms to collapse since the market took a turn last year.
Raina Moskowitz, CEO of The Knot Worldwide, unpacks the 2025 Global Wedding Report, from Gen Z trends to how Taylor Swift's wedding could reshape the industry.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
