Circle moves its USDC reserve deposits out of troubled Silvergate Bank

Circle moves its USDC reserve deposits out of troubled Silvergate Bank

Market Analysis
March 4, 2023 by secret
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[ad_1] Silvergate bank in a filing on Wednesday said losses might leave it with less capital than it needs. The bank recently closed its SEN Platform which institutions used to move money to crypto exchanges. Coinbase, Galaxy, and Paxos have stopped accepting transfers via Silvergate Network. USDC stablecoin issuer Circle has today announced that it