Silvergate Bank Suspends Its SEN Trading Network

04/03/2023 08:52

Crypto-friendly bank Silvergate Bank has suspended its Silvergate Exchange Network (SEN) trading network, while all other deposit-related services remain operational, Reuters reported. SEN is a 24/7 instant settlement service that enables digital currency and institutional investor clients to send U.S. dollars between their Silvergate accounts and those of other Silvergate clients. Silvergate has previously hinted that it could face investigations by the Justice Department, Congress and banking regulators. Previous clients Coinbase, Circle, Paxos, Crypto.com, Bitstamp, Cboe Digital Markets, Galaxy and Gemini said they would suspend business with the bank.

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Silvergate Bank Suspends Its SEN Trading Network

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