Silvergate Announces Addition of Benjamin Richman as Director of Digital Currency

Silvergate Capital Corporation (NYSE:SI) (“Silvergate” or the “Company”), the leading provider of innovative financial infrastructure solutions to the digital currency industry, announced today that it has added Benjamin Richman to its team as senior vice president, director of digital currency. In this newly created position, Benjamin will lead the team that is responsible for continuing to grow the Company’s business by implementing business development initiatives, overseeing key client relationships, and managing market, portfolio and operational risks.

Prior to Silvergate, Benjamin spent the past three years at Blockstream, a global leader in Bitcoin and blockchain technologies, where he was the director of business development and partnerships and was responsible for the growth of Blockstream’s Liquid network, an inter-exchange network based on Bitcoin. In addition, Benjamin spent six years at Booz Allen, and is a graduate of Duke University Fuqua School of Business and Elliott School of International Affairs.

Kate Fraher, chief operating officer of Silvergate, stated that, “We are dedicated to providing great customer experiences and excited to welcome Benjamin to our team. His deep understanding of the digital currency industry and the digital currency infrastructure solutions we are building will be a tremendous asset.”

Ben Reynolds, executive vice president of corporate development at Silvergate added, “We’re excited about the new products and innovative financial infrastructure solutions we’re developing to assist both investors and exchanges in the digital currency industry, and the business development experience that Benjamin gained at Blockstream will be important to our success.”

Forward-Looking Statements

Statements in this press release may constitute forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. Statements relating to future events or our future performance or financial condition are not facts, but are based on current expectations, estimates and assumptions by management. These statements are not representations regarding or guaranties of future performance, condition or results and involve various risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of many factors. For information about other important factors that could cause actual results to differ materially from those discussed in the forward-looking statements contained in this release, please refer to the Company's public reports filed with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances that arise after the date such statements are made.

About Silvergate

Silvergate Capital Corporation (NYSE: SI) is a registered bank holding company for Silvergate Bank, headquartered in La Jolla, California. Silvergate Bank is a commercial bank that opened in 1988, has been profitable for 22 consecutive years, and has focused its strategy on creating the banking platform for innovators, especially in the digital currency industry, and developing product and service solutions addressing the needs of entrepreneurs. As of September 30, 2019, Silvergate had total assets of $2.1 billion, total deposits of $1.8 billion, and total stockholders’ equity of $230.6 million.

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