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new parimatch Shares are down by more than 90% from their all-time high in November 2021Silvergate is a great example of everything thats wrong with this industry They were working on a MMF, the most dangerous link in the crypto chain Jim Cramer talked about why Silvergate is a pivotal part of the crypto ecosystem on Mad Money, CNBC.Silvergates shares plummeted, losing more than 43% yesterday, then another 2% or so. They are down by more than 90% from their all-time high in November 2021. According to the bank, the crypto industrys breakdown caused a run on deposits, prompting it to fire 40% of its staff and sell assets at a major loss. Silvergate held deposits for FTX units and Alameda.Stocks can always go lowerAccording to Cramer, stocks can always go lower and as long as theyre above zero, its fine. However, Silvergate is a pivotal part of the crypto ecosystem because its a great example of everything thats wrong with this industry. Cramer said:The bank made a series of horrifying disclosures, which caused (the drastic fall). If we dont address it, I worry that the market cap will shrink to the point where we wont be allowed to talk about it on air.History of Silvergate BankSilvergate Bank was founded as a savings and loan association in 1988. It was transformed into a bank in 1996 by Dennis Frank and Derek J. Eisele. At first, it was quite small with just three branches in southern California.In 2013, CEO Alan Lane made a personal investment in Bitcoin, and the bank went into crypto. They launched services to companies in the crypto space, especially crypto exchanges. They got in very early according to Cramer, when most banks didnt want to have anything to do with Bitcoin. Then, it was really only Bitcoin.Silvergate grew rapidly thereafter, reaching .9 billion in assets by 2017. The company was listed in November 2019 at a stock price of . The price had risen by 1580% in November 2021.Why did they fail?As mentioned, the price is now down over 90% from then. Cramer explains:Silvergate established the Silvergate Exchange Network (SEN), a payment network for the crypto space. You can send USD to other Silvergate customers instantly, 24/7, just like crypto transactions. The bank also offered loans with Bitcoin as collateral. They were working on their own stablecoin, like a pseudo money market fund (MMF) that allows you to go in and out of the market without friction, which is the most dangerous link in the crypto chain.

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new parimatch Metaverse use cases have to be commercialized soonerWith the market getting tougher, technology companies are pulling backMetaverse should be about how to build a safer automobile and test it with less physical waste, cost, and timeDaniel Newman of Futurum Research discusses how we will be able to use the metaverse in the healthcare, automobile, and other industries on Squawk Box, CNBC.Metaverse is getting on a consumer levelMetaverse companies flocked to CES (Consumer Electronics Show) 2023, which shows the metaverse is getting on the consumer level. Use cases have to be commercialized sooner.With the market getting tougher, technology companies are pulling back, says Newman. Theyre looking to invest in RD, in technologies that people can commercialize and monetize.Meta was too ambitiousHe gave Meta as an example of a company that was too ambitious about what the future of the metaverse might look like. There was an excessive focus on consumer applications, wearing the big headsets, the virtual universehow much of the market is going to get into that right away?Building worlds in the futureAfter expressing this doubt, Daniel Newman talked about what Nvidia is doing using generative AI to actually build worlds in the future, where you can see what a building will look like in a space or design the inside of an office, or what Microsoft is doing with Teams to create a more collaborative meeting experience. He said:When we go back to real world meetings, we see that connections and relationships are different than what we did on Zoom, so maybe the metaverse can bring us there.A wasted opportunity?The host asked if this was becoming an entirely wasted opportunity. He asked Newman:I dont see applications for education, healthcare, for housing (that you touched upon). Dont these developers have to move beyond gaming?Newman responded:The real applications of this are going to be manufacturing, planning, engineering. Its going to be in health care, in exploring car tech and creating safer settings in public. Its not about the big headsets and wearables; thats only part of it. Its about how to build a safer automobile and test it with less physical waste, cost, and time. The metaverse should be talking more about how to 3D print a valve, transplant it in a patients heart, and have the surgeon test it thousands of times. Of course, those commercial use cases dont usually make it in the media.