Bank closes your crypto payment network

Aktualisiert:

Von Krypto News Österreich

The Silvergate Capital Corporation was once one of the most preferred banking institutions for cryptocurrency business, but the company has been faced with numerous problems in the past few weeks.

Last the bank closed its crypto payment service called Silvergate Exchange Network.

"With immediate effect, Silvergate Bank has made a risk -based decision to set the Silvergate Exchange Network (sen). All other deposit -related services remain in operation," says the company's statement.

  • The service made it possible to carry out transfers on crypto exchanges around the clock, which was one of the most frequently used products from the bank. It worked much faster than traditional bank transfers that could take days.
  • However, the bank pulled the eyebrows up at the beginning of this week when it revealed surgical problems and said that it had to postpone her annual report.
  • Apart from the fact that the shares collided by over 30 % within hours, the announcement also caused several crypto giants such as octopus and coin base, silver gate and its services.
  • As one of the largest players from the traditional financial industry, the news also affected the entire cryptom market. Bitcoin fell to a low of less than $ 22,000 in a few hours, while the entire market capitalization fell by $ 50 billion in one day.