Circle officials said, "We are sensitive to the concerns surrounding Silvergate and are in the process of discontinuing certain services with them and notifying customers."

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Wu said that Circle officials said that we are sensitive to the concerns surrounding Silvergate and are in the process of unbundling certain services with them and notifying customers. We are continuing to implement long-term plans to expand the range of banking partners and the services we provide through all of these partners, including the minting and redemption of USDC.

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