Crypto prices steadied while stocks tied to digital assets sank on ratings news and financial results. 

Bitcoin was trading at roughly $16,800 by 1 p.m. ET, down 0.3%, according to TradingView data. 

Ether was hovering around $1,240, down by about 0.8%, while altcoins like Polygon's MATIC and Ripple's XRP also fell by 2.4% and 2.7%, respectively.

The S&P 500 and Nasdaq 100 were both off by more than 1%.

Silvergate took a beating, slumping 43% after announcing job cuts and an $8.1 billion drop in deposits in the fourth quarter  amid a "crisis of confidence across the ecosystem." 

Crypto exchange Coinbase fell 8.5%. Cowen downgraded the stock earlier today, but Needham's John Todaro noted that trading volume declines have likely mostly been digested by the market, given those numbers are already out there.