Silvergate shares tank 46% after Coinbase severed payment partnership
Coinbase has dropped Silvergate as its payment partner; urges Prime users to update their payment instructions to Signature Bank.
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Crypto-friendly bank Silvergate has seen its shares (SI) fall by over 44% shortly after news emerged that Coinbase will stop using its USD payment service.
Leading crypto exchange Coinbase informed its Primer users on March 2 that it has decided to change Silvergate as its banking partner.
Coinbase said it has moved to work with Signature bank for all USD-related payments.
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