Silvergate Exodus Worsens After Bank Questions Own Survival (3)

Silvergate Capital Corp.’s woes deepened on Thursday, a day after the bank raised questions about whether it can stay in business, with the shares plummeting to a record low and key partners cutting off ties to the crypto-friendly bank.

The bank set off alarms with a filing Wednesday that said losses might leave Silvergate with less capital than it needs, and that it’s evaluating its ability to continue as a going concern.

Investors and business partners headed for the exits, with the stock slumping 58%, its biggest drop ever, to a record low. Meanwhile, Coinbase Global Inc., Galaxy ...