During an interview on HedgeyeTV hosted by Hedgeye CEO Keith McCullough on November 14, 2022, veteran short-seller Marc Cohodes pulled zero punches on "garbage ass" Silvergate (his words) and that the company's shenanigans "need to be called out." (As most of you know by now, Cohodes also correctly called FTX a fraud on HedgeyeTV a month before shit hit the fan).
Here's the 3-minute clip of Cohodes warning investors about Silvergate (SI) back in November.
As Cohodes told McCullough on HedgeyeTV:
"This is serious ass shit...Get a load of this. Last year, [Silvergate] transferred $1 trillion between these offshore entities and customers. $1 trillion on a $14 billion deposit base.
This name was brought to my attention by who I think is the best bank analyst on the planet and that's Porter Collins, of The Big Short Fame. He think they're in the process now of having a run on the bank."