Silvergate Capital Corporation said it would voluntarily cease operations and liquidate Silvergate Bank in accordance with relevant regulatory procedures.
In an announcement on March 8, Silvergate Capital Corporation said The decision to close that operation “Based on the latest industry and regulatory developments,” Silvergate Bank’s liquidation plan includes a “full repayment of all deposits.”
Several crypto companies, including Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital, announced in March that They will cut ties with banks.
The post Silvergate Capital Corporation Announces Closing of Silvergate Bank Operations appeared first on Bitcoin Addict.