The slivergatebank 's Silvergate Exchange Network (SEN) played a crucial role in crypto markets. Now that it's been shut down, questions have arisen as to who or what is going to fill that void. $SI HeleneBraunn reports
that"we are winding down our relationship with Silvergate," taking steps to ensure that"client and operating cash is safe and secure."
Silvergate launched SEN in 2018 and had seen significant adoption of the platform, with transaction volume reaching. Pretty much all major U.S.-based crypto exchanges became clients of Silvergate and started moving money through the network. Naturally, the SEN business served as a marketing tool to lure crypto firms to park deposits at Silvergate.
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