parent company silvergate capital, crypto-focused banking service Silvergate announced that it will end its operations.
Turbulent times and negative news flows continue to come in the cryptocurrency market. In these periods when the markets were trying to recover, the effect of the pessimistic atmosphere on the Silvergate side began to get worse. The crypto banking institution that has recently stated that it has been experiencing financial difficulties silvergatehas terminated its SEN service to crypto exchanges.
After the painful processes, Silvergate’s parent company, silvergate from Capital A new announcement has arrived. Parent company, crypto banking service citing financial troubles Silvergate’sHe said he stopped his operations.
The End of an Age: Silvergate is Closing
roof company silvergate capital, crypto banking service undergoing challenging processes Silvergate’sterminated its operations and announced that it was liquidating its banking services.
After this decision taken by the roof company Capital, Silvergate’s stock is approximately from 36 percent suffered a great decline. The effect of this news created a pessimistic environment in the crypto money market.
In the statements from the company, it was stated that Silvergate will terminate its bank operations on an orderly basis in light of the latest industry and regulatory developments. The company believes that stopping the operation process and liquidating the bank service is the best way forward. In addition, according to the shared liquidation plan, All deposits will be fully refunded to customers.
