On October 1, 2019, American bank holding company Silvergate Capital Corporation announced it would no longer provide banking services to cryptocurrency exchange Binance. The move came as a surprise to many in the crypto community, as Silvergate had been one of the most crypto-friendly banks in the United States.
So why did Silvergate cut ties with Binance? There are a few possible reasons.
One reason could be regulatory pressure. Binance is not registered with the US Securities and Exchange Commission (SEC), and US regulators have been cracking down on unregistered exchanges in recent months.
NOTE: This is a warning to all users of Silvergate and Binance platforms.
Silvergate, a California-based crypto bank, has announced that it will be terminating its services to Binance, the world’s largest crypto exchange. This termination of service will take effect immediately and all funds held by Silvergate on behalf of Binance must be withdrawn by May 31st 2021.
We urge all Silvergate and Binance users to take this announcement seriously and take immediate steps to withdraw their funds from both platforms as soon as possible in order to avoid any potential financial losses or inconvenience.
Thank you for your attention and cooperation.
Silvergate may have decided that it was too risky to continue doing business with Binance.
Another possibility is that Silvergate simply decided that Binance was not a good fit for its business model. Silvergate is a small bank, and it may have decided that working with a large cryptocurrency exchange was more trouble than it was worth.
Whatever the reason, the loss of Silvergate as a banking partner is a setback for Binance. The exchange will now have to find another bank to work with, which could be difficult given the current regulatory environment in the United States.
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Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has suspended bank transfers. The move comes amid increased scrutiny from regulators around the world. The exchange announced the suspension on its blog, saying that it had “received notice from our banks” that they were “unable to process Binance-bound wire transfers” due to “regulatory compliance issues.”
Binance said it is working with other banks to resume wire transfers, and that it is “actively exploring” other options to provide its users with “sufficient deposit and withdrawal options.”
The suspension of bank transfers is the latest in a series of regulatory hurdles for Binance.
Binance Coin (BNB) is currently down 5.41% against the US Dollar (USD) and trading at $15.14. The 24-hour trading volume is $316.
39 million. The total market capitalization is $2.21 billion.
When it comes to staking on Binance, there are a few things you need to take into account. The first is the amount of money you are willing to stake. The second is the length of time you are willing to stake for, and the third is the return you are expecting.
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On 14th March, 2019, the British multinational investment bank and financial services company Barclays announced that it would be banning credit card purchases of cryptocurrency. The news sent shockwaves through the crypto community, with many people left wondering – why did Barclays ban Binance? There are a few possible reasons for why Barclays took this decision.
Binance is the world’s largest cryptocurrency exchange by trading volume. It is also one of the fastest-growing exchanges in the industry, having gained over 10 million users in its first year of operation. Binance offers a platform for trading a variety of digital assets, including cryptocurrencies, tokens, and ICOs.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, offers customers a way to earn staking rewards on their platform. Binance allows users to stake their cryptocurrency and earn rewards based on the amount of currency they hold and the length of time they hold it. Binance pays staking rewards to users in the form of newly minted coins, which are then distributed to users based on their stake.
