Silvergate is finally throwing in the towel with by shutting down and liquidating its assets. The crypto-friendly bank came under fire in early March when it announced having to push back filing its annual financial report in the U.S. which led to major crypto companies like Coinbase, Paxos and Crypto.com cutting ties with the bank.
The crypto market has been trying to contain its losses since Silvergate began losing clients. Bitcoin has marked a nearly nine percent dip while falling to pre-FTX crash levels.
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