coindesk.com
Market maker Citadel Securities has disclosed a 5.5% stake in Silvergate Capital (SI) worth about $25 million.
According to a Form 13G filed with the Securities and Exchange Commission (SEC), Citadel Securities is now the owner of roughly 1.73 million shares or a 5.5% stake in Silvergate, valued at $25 million based on yesterday's closing price of $14.71.
CoinDesk reached out to Citadel Securities for comment but had not received a response by publication time.
Alongside a modest rally in the price of bitcoin, Silvergate shares are higher by just over 1% on Tuesday at $14.88. Shares are down 87.5% over the past year.
Read more: Silvergate CEO Attempts to Address Concerns in Public Letter