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Crypto Bank Silvergate Cut to Underweight at Morgan Stanley Following FTX Collapse

Already down more than 50% over the past month, the bank’s shares are lower by another 3% in premarket action Monday morning.

Morgan Stanley downgrades its rating on crypto bank Silvergate Capital's shares to underweight from equal weight. (Unsplash)
Morgan Stanley downgrades its rating on crypto bank Silvergate Capital's shares to underweight from equal weight. (Unsplash)