Coinbase Cuts Ties With Silvergate: Latest Cryptocurrency News

Silvergate has been facing lawsuits and investigations for a while. Now, the bank is losing its partners, 5 of them have cut ties, Coinbase being one of those parties (according to reports from March 3). The other 4 are Paxos, Gemini, BitStamp, and Galaxy Digital. After Coinbase terminated the partnership, Silvergate decided to look for another banking partner. 

Digital Asset Capital Managment (DACM), a hedge fund that was using Silvergate, announced that they are also looking for a partner. Previously, they have used Silvergate to withdraw and move funds from Coinbase Global’s platform.