Silvergate Crashing Down
After regulatory headwinds and the bear market turbulence, crypto-friendly bank Silvergate has announced plans to wind down its operations.
Silvergate Capital, parent company of Silvergate Bank, issued a statement on Wednesday that claims its voluntary liquidation was the best path forward for the Bank, citing that full repayment if all deposits were included in the liquidation plans.
The liquidation follows a slew of exits from crypto companies terminating their partnership with the bank, including Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital, all following the investigations into the company.
In today's news, Celsius issue $25 million for customer withdrawals, Mutant Apes as villains and ether to be a commodity?
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