The largest cryptocurrency exchange in the USA, Coinbase, announced that it has terminated the transactions made through the crypto money bank Silvergate (SI), citing the latest events.
A recent report by Coinbase. in the announcement, Silvergate transactions are suspended place was given. Coinbase has already given the reason for its decision. Silvergate investigation by the USA And the company’s financial problems suggested. The said transaction restriction will cover transfers made in Dollars. Pound or Euro payment orders will not be affected by this decision.
The company detailed that no Silvergate transaction will be accepted in the future, with the following statements:
In light of recent developments and to be cautious, Coinbase will not allow sending or depositing funds to Silvergate.
On the other hand, Coinbase will transfer its next transactions to its other banking partner. Signature Bank stressed that it will increase
silvergate, FTX and after the Alameda bankruptcies 8 billion dollars He had to sell assets, and in the past few weeks he may have been linked to these bankruptcies. US Department of Justice (DOJ) was under detailed investigation.
However, in a note released by Silvergate on March 1, it was stated that the annual report release was delayed and the financial flow could get worse for the bank.
After this statement made on March 1, SI share price, which faced selling pressure with the closing of the markets, $13.5 from the levels 6.76 up to dollars more than 50% witnessed a decline. SI at the time of writing at $7.49 is being traded.
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Related article: Crypto Bank Postpones Silvergate Report: Share Price At Its Lowest!
A Blow to Silvergate, whose shares have fallen by 50 percent, from Coinbase: The article “Stopped Transactions” was prepared by Tugay Erdem and published on koinbulteni.com.
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