Circle, Paxos, Bitstamp and Galaxy join Coinbase in scaling back partnerships with Silvergate Bank

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Circle, Paxos, Bitstamp and Galaxy join Coinbase in scaling back partnerships with Silvergate Bank
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It's official: Silvergate Bank is the new pariah of the crypto industry. Why are companies like Coinbase, PaxosGlobal and Circle jumping ship?

“Please be aware that Bitstamp cannot be responsible for any funds deposited into the Silvergate bank account,”As a precautionary measure in light of recent news, we are no longer processing transfers with Silvergate.

Bank transfer services will now be provided by our other global banking partners. Bitstamp client funds remain secure and fully available.

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