Short sellers of Silvergate have made approximately $780 million in profits

ChainCatcher news, data from S3 Partners shows that the stock price of cryptocurrency-friendly bank Silvergate Capital has fallen about 98% from its peak in November 2021, during which short sellers have made approximately $780 million in profits based on market capitalization, with over $190 million just last week. About 85% of Silvergate's outstanding shares are shorted, making it one of the most shorted stocks in the U.S. market.

Additionally, investors are using put options to short Silvergate. S3's predictive analytics head Ihor Dusaniwsky stated that traders seeking to increase their short exposure are now severely hindered by a lack of borrowable shares and rising financing costs. (Bloomberg)