Crypto traders lost $307 million of liquidations on Thursday following the news that Silvergate Capital was shuttering operations and liquidating its bank. Traders on Binance saw $104 million of losses, followed by $79 million of losses on OKX and $45 million on Huobi. Bitcoin traders saw the most losses, roughly $112 million, while ether liquidations exceeded $73 million. Crypto markets recovered from some losses following the collapse of crypto exchange FTX. BTC rallied above $25,000 in February at one point after starting the year at about $16,600.