Nelson Wang Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000. Follow @ NelWang on Twitter Federal Deposit Insurance Corp (FDIC) officials have been consulting with executives of troubled crypto-focused bank Silvergate Capital (SI) on how to keep the company in business, according to a report from Bloomberg, citing sources familiar with the matter. One option may involve recruiting crypto industry investors to help boost Silvergate’s liquidity, according to one of Bloomberg’s sources. FDIC examiners were authorized to go to Silvergate’s La Jolla, Calif. headquarters last week by the Federal Reserve, which is Silvergate’s main federal overseer, according to Bloomberg. The FDIC did not immediately return a request for comment. Silvergate shares were rising 2. 5% to $5. 34 in after-hours trading on Tuesday. Silvergate announced last week it would delay the filing of its annual report because it needed to answer requests from its independent auditors and accounting firm, in addition to pending regulatory and other inquiries and investigations. The company further warned that its ability to “continue as a going concern” over the next year might be impacted by its issues. The majority of its crypto clients subsequently announced they had left or were leaving the company , sending Silvergate's share price falling by more than 50% to an all-time low. Silvergate also announced it was discontinuing its Silvergate Exchange Network (SEN) used by institutions to move money to crypto exchanges. Read more: The Rise and Fall of Silvergate's Crypto Business UPDATE (March 7, 22:19 UTC): Added additional background. DISCLOSURE Please note that our privacy policy , terms of use , cookies , and do not sell my personal information has been updated . The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies . CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups . As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG . Nelson Wang Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000. Follow @ NelWang on Twitter Learn more about Consensus 2023 , CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus. coindesk. com to register and buy your pass now. Nelson Wang Nelson Wang is CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000. Follow @ NelWang on Twitter.