Silvergate’s Crypto Deposits Hold Steady in Sign Bank Is Weathering Industry Rout

Silvergate Capital Corp. said deposits from digital-currency customers held steady in the second quarter, a sign that the bank and its clients are weathering the cryptocurrency rout. Shares of the company soared.

Total deposits from those customers totaled $13.3 billion at the end of the second quarter, up from the $13.2 billion three months earlier. Diluted earnings per common share rose to $1.13, surpassing analysts’ average estimate of 84 cents.