🚨 Time is Running Out: Reserve Your Spot in the Lucky Draw & Claim Rewards! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!

Crypto Exchange Kraken Halts Deposits and Withdrawals Through ACH Silvergate

Crypto Exchange Kraken Halts Deposits and Withdrawals Through ACH Silvergate

Yet another crypto-related firm is turning its back to Silvergate Bank.

Prominent cryptocurrency exchange Kraken is facing issues with its deposits and withdrawals connected to the Silvergate automated clearing house (ACH).

On March 22nd, numerous online reports from alleged Kraken users revealed that the crypto exchange had informed them about a suspension of ACH deposits and withdrawals. The halt is set to take effect starting March 27th.

How to Learn Crypto The Easy Way? (Trending Beginners' Strategy)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

How to Learn Crypto The Easy Way? (Trending Beginners' Strategy)

How to Learn Crypto The Easy Way? (Trending Beginners' Strategy) How to Learn Crypto The Easy Way? (Trending Beginners' Strategy)

Based on the email snippet shared by Twitter user MikeBurgersburg, Kraken customers will no longer be able to access deposit options through Plaid or withdrawal options via ACH Silvergate.

In the announcement, Kraken highlighted that other services, such as ACH instant purchases through online banking, would not be impacted.

To facilitate uninterrupted funding, Kraken has encouraged users to explore alternative funding methods, such as MVB Bank for Fedwire deposits and withdrawals.

Kraken assured its users that it is working "to make ACH funding available as soon as possible."

Kraken is not the only crypto-related firm cutting all ties with recently collapsed crypto-friendly banks. Right before Silvergate Capital Corporation revealed plans to liquidate Silvergate Bank, crypto firms, including Coinbase, Paxos, Circle, Galaxy Digital, Gemini, Crypto.com, and Blockchain.com, terminated their partnerships with the bank.

It is worth noting that in early March, the US banking industry went under when banks like Signature Bank, Silvergate Bank, and Silicon Valley Bank shut their doors.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

Loading...
binance
×
Verified

$600 WELCOME BONUS

Earn Huge Exclusive Binance Learners Rewards
Rating