Crypto Bank Silvergate Has Gone Into Liquidation
Silvergate Is Currently Under Investigation From The US Department Of Justice as FTX & Alameda Research held accounts with them
A week before their liquidation announcement Coinbase & Galaxy Digital Cut Ties with Silvergate, which has Struggled Since the Collapse OF FTX
The California Based Bank Got Into Crypto in 2013. The biggest loss in this is the closure of The Silvergate Exchange Network Or SEN, which allowed instantaneous 24/7 Crypto transfers.
This was a leap forward for banking as traditional transfers take several days to process and can only be executed during normal business hours
