The crypto firm said on Twitter it has stopped accepting customer deposits/processing withdrawals via automated clearing house and wire transfers through Silvergate on the Gemini exchange.The company said in a tweet in light of recent developments that it has stopped accepting or initiating transfers to Silvergate, adding that it has no material exposure to the bank.
The crypto exchange said that as a precautionary measure in light of recent news it is no longer processing transfers with Silvergate, adding that client funds remain secure and fully available.The firm said it is sensitive to the concerns around Silvergate and is in the process of unwinding certain services with the bank and notifying customers.
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