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Kraken joins list of crypto firms cutting ties with troubled banks

Mar 24, 2023 · 1 min read · 98 points
Kraken joins list of crypto firms cutting ties with troubled banks
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Kraken crypto exchange has reportedly informed its customers that as of March 27, deposits and withdrawals via ACH Silvergate and Plaid will no longer be available.

Highlights

  • Kraken crypto exchange has reportedly informed its customers that as of March 27, deposits and withdrawals via ACH Silvergate and Plaid will no longer be available.
  • The San Francisco-based bitcoin (BTC) trading venue has facilitated its U.S.
  • customers’ ACH deposits and.
  • withdrawals via Silvergate since 2019.
  • However, the bank’s voluntary liquidation earlier this month has made it impossible for Kraken to continue using its service.
  • The abrupt collapse of Silvergate,.

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