Silvergate Capital Corporation announces termination of Silvergate Bank's operations

Silvergate Capital Corporation said it would voluntarily cease operations and liquidate Silvergate Bank in accordance with the relevant regulatory procedures.

As the announcement on 8th March, Silvergate Capital Corporation said the decision to close the operation is "subject to industry and the latest regulatory developments", with Silvergate Bank's liquidation plan including "full repayment of all deposits".

There are many crypto firms included Coinbase, Paxos, Gemini, BitStamp, and Galaxy Digital announced in March they will cut off relationship with bank.  

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