- Crypto-friendly bank Silvergate announced orderly liquidation.
- Several major crypto exchanges distanced themselves from Silvergate.
News from Silvergate rocked the crypto markets, wiping out $1 billion in value. Following the panic, major exchanges scrambled to distance themselves from the potential fallout.
On Thursday, crypto exchanges Binance, Coinbase (NASDAQ:COIN), OKX, and Paxos claimed they have no assets in Silvergate.
Binance has no âasset lossesâ at Silvergate, Binance CEO Changpeng Zhao (CZ) tweeted. âFunds are SAFU.â
https://twitter.com/cz_binance/status/1633657404389826562 âCoinbase has no client or corporate cash at Silvergate. Client funds continue to be safe, accessible & available,â Coinbase tweeted.
âOur corporate and customer funds are safe,â said OKX President...