Updated at 10:10 am EST

Silvergate Capital  (SI) – Get Free Report shares plunged lower Thursday after it said the collapse of FTX lead to a rush of withdrawals at the crypto lending specialist amid what it called a “crisis of confidence across the digital asset ecosystem.”

Silvergate said in a limited update to its fourth quarter earnings that deposits from digital asset customers fell $8.1 billion over the three months ended in December, compared to third quarter levels, to around $3.8 billion, following the FTX Chapter 11 bankruptcy filing in early November. 

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