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Fed board issues order to Silvergate Bank as part of self-liquidation plan

In a June 1 notice, the Fed said Silvergate Capital (OTC:SICP) Corporation and the bank will have 10 days to submit a self-liquidation plan in compliance with California and federal requirements that will wind down its operations. The firm announced in March it planned to shutter operations “in light of recent industry and regulatory developments,” becoming one of three major crypto-friendly banks to close.

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Source: Cryptocurrency - investing.com

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