Silvergate Capital has announced that it will discontinue the Silvergate Exchange Network. The news led to the crypto bank’s share price tanking over 2% in after-hours trading. Silvergate Capital Corp has announced that it will suspend the Silvergate Exchange Network (SEN), its crypto payments network. The move to discontinue the network comes just two days […]
Silvergate Capital has announced that it will discontinue the Silvergate Exchange Network.Silvergate Capital Corp has announced that it will suspend the Silvergate Exchange Network , its crypto payments network.
This was a major advantage over traditional bank wires, which sometimes take days to settle. This service counted industry heavyweights like Binance U.S and Kraken among its customers. Companies operating in the crypto space received similar statements from a spokesperson for the crypto bank. “The share price of Silvergate Capital tumbled following the news of SEN’s suspension.showed that the stock tanked more than 2% in after-hours trading after closing at $5.77 following a modest hike of 0.87% over the previous trading day.
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