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Crypto bank Silvergate has discontinued its digital assets’ payment network because it is a “risk-based decision.” The announcement comes after the bank’s stock fell over 59% last week due to fears of a potential bankruptcy. Silvergate terminates exchange network Silvergate announced on its website on Mar. 4 that it had closed the Silvergate
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Silvergate Bank has discontinued its cryptocurrency payments network. The decision to shut down Silvergate Exchange Network followed the withdrawal of banking relationships by several major cryptocurrency firms, including Coinbase, Gemini, Paxos, and Circle. Silvergate Discontinues Crypto Payments Network Silvergate Bank announced Friday that its cryptocurrency payments network, the Silvergate Exchange Network (SEN),
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Delay in Silvergate’s financials sparks fears over bankruptcy, FTX reports
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Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets' payment network, claiming the termination is a "risk-based decision". The move comes after the bank's stock fell over 59% in the past five days due to fears of a potential bankruptcy. A disclaimer on Silvergate's website stated:“Effective
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Bitcoin (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets.BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewBad news holds Bitcoin backData from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering at around $22,350 on March 4.The pair had managed to avoid further losses after the initial shock
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The crypto market experiences a significant slump following the announcement of Silvergate Bank’s earnings report for the fourth quarter of 2022. Cryptocurrency investors were in for a rude awakening as the market experienced a steep decline in recent weeks. Investor and trader, The Elite Crypto, expressed in a tweet they believe
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After news surfaced that Silvergate, a crypto-favored bank, has financial problems, SHIB lost massive value. SHIB price declines Shiba Inu is among the top token to suffer severe losses in the past few days. Some 24 hours ago, SHIB was trading at just about $0.00001189. When writing this report, the coin had
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Silvergate has had a rough week, after disclosing on Wednesday that it would delay the filing of its annual report due to questions from its auditors. In the same notice, the bank admitted it was facing investigations from bank regulators and the U.S. Department of Justice, and said its ability
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Cryptocurrency markets experienced a relatively calm month in February as the total market capitalization gained 4% in the period. However, the fear of regulatory pressure appears to be having an impact on volatility in March.Bulls will undoubtedly miss the technical pattern that has been guiding the total crypto market capitalization
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Bitcoin was down 5% early Friday, a day after a spout of negative developments surrounding crypto-friendly U.S. bank Silvergate Capital (SI). On Thursday, Coinbase (COIN), Circle, Paxos, Crypto.com, Bitstamp, Cboe Digital Markets, Galaxy Digital and Gemini all announced they will suspend Automated Clearing House transfers and other business operations with
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