ChainCatcher reported that according to Reuters, crypto-friendly bank Silvergate Bank has suspended its Silvergate Exchange Network (SEN) trading network, and all other deposit-related services are still running. SEN is a 24-hour instant settlement service that enables digital currency and institutional investor customers to send US dollars between their Silvergate accounts and the accounts of other Silvergate customers.
It is reported that Silvergate has previously hinted that it may face investigations from the Department of Justice, Congress and banking regulators. Previous customers Coinbase, Circle, Paxos, Crypto.com, Bitstamp, Cboe Digital Markets, Galaxy and Gemini have said they will suspend business with the bank. (Source link)
