Crypto.com Takes a Hit: Maintaining Fiat On-Ramps in a Crypto Banking Crisis
After missing the deadline for filing its annual report, Silvergate has come under fire. Concerns were raised about the delay in filing the report since the bank said it was assessing its operational viability. The red flags definitely raised concerns, as cryptocurrency firms ended their relationship with the bank. On the list, Crypto.com was a notable name. With the ongoing issues in place, Crypto.com is currently only providing Euro-denominated banking services to European Economic Area users. This is due to the lack of a trustworthy banking partner for the USD deposits. Also read: Binance Unveils Major Upgrade to its Proof-of-Reserves Source: Bitcoinist Crypto.com is struggling to find a reliable banking partner The falling cryptocurrency prices and the deteriorating relationship with the banks have made the situation worse for Crypto.com . Initially, the exchange was partnered with Transactive Systems. However, the relationship was affected when it was ordered ...