Binance, Coinbase, and OKX have declared that they have no investment exposure to the embattled Silvergate Capital. The crypto-friendly lender has announced its winding down operations.
Silvergate enters voluntary liquidation
After several months of battling a severe liquidity crunch and ដំណើរការធនាគារ partly triggered by the disgraced សាមធនាគារមេន-ចៀន’s FTX exchange collapse, Silvergate Capital, the parent company of crypto-friendly Silvergate bank, has finally decided to shutter operations.
Per a March 8, press ចេញផ្សាយ by the La Jolla, California-based corporation, the recent unfavorable events and regulatory dark clouds in the cryptospace have made it impossible for it to continue normal operations, as such it has decided to call it quits and voluntarily liquidate the bank.
អ្នកខ្ចីដែលថ្មីៗនេះ បានទទួល examiners from the Federal Deposit Insurance Corporation (FDIC) at its headquarters, has made it clear that its “wind down and liquidation plans include full repayment of all deposits.”
Exchanges deny having losses from the Silvergate collapse
Reacting to the unfortunate news, Changpeng Zhao, the CEO of Binance, the world’s largest centralized Bitcoin (BTC) trading venue stated via a Twitter post that the exchange has zero exposure to the embattled lender.
Source: https://crypto.news/binance-and-coinbase-claim-zero-exposure-to-silvergate-collapse/