A crypto-friendly bank’s stock price is free-falling as the top US-based crypto exchange platform by volume cuts off its payments.
In a new announcement, crypto exchange giant Coinbase says it is no longer going to be accepting or initiating payments to or from Silvergate, which has seen its stock price dip by over 45% over the last 24 hours.
“In light of recent developments and out of an abundance of caution, Coinbase is no longer accepting or initiating payments to or from Silvergate…
Coinbase has de minimis corporate exposure to Silvergate.”
Silvergate’s stock is trading for $6.87 at time of writing, a staggering 49.6% drop from its price of $13.53 just one day ago.
Similarly, another prominent crypto firm is cutting off Silvergate for
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