Citadel, Susquehanna, and Soros buy Silvergate, and Bitcoin's Average Block Size hits All-Time-High
Feb 14, 2023
Crypto rallied following today’s CPI report that showed that inflation grew at a 6.4% annual rate, slightly higher than expected. BTC and ETH rose 1.53% and 2.93%, respectively, while SPX and NDQ were down 0.14% and up 0.23%. Interestingly, more traditional finance giants have acquired shares of Silvergate (SI). Citadel Securities disclosed a 5.5% stake in the crypto-friendly bank, Susquehanna Advisors Group disclosed a 7.5% stake, and George Soros’s fund also announced a smaller stake. Standouts today in the crypto market include alternative layer 1, FTM (up 14.65%), and liquid staking provider, LDO (up 7.93%).