MicroStrategy said Thursday it has no assets managed by Silvergate Capital (SI). Apart from a loan due in 2025, there are no other financial ties to Silvergate. MacroStrategy, the subsidiary of MicroStrategy responsible for buying Bitcoin, received a $205 million loan from Silvergate in March 2022 through the Silvergate Exchange Network (SEN) Leverage Program. The loan is due in the first quarter of 2025 and will not be prepaid due to Silvergate's insolvency or bankruptcy. According to previous news, Silvergate Capital Corporation stated in a document submitted to the US Securities and Exchange Commission (SEC) that it may be "insufficient capital" and is "re-evaluating its business" and will not be able to submit its annual report on time. Following the announcement, several crypto firms including Coinbase, Paxos, Galaxy Digital and Kraken ended their partnerships with Silvergate. Shares of Silvergate fell 57% on Thursday.