(BTC) is main the cryptocurrency markets decrease, and the matter is being exacerbated by Silvergate Banks’ ongoing points. This week, the cryptocurrency-focused financial institution stated it wanted extra time to file its annual 10-Ok report and warned that it won’t make it one other 12 months. Reacting to this information, a number of cryptocurrency corporations introduced they would scale back or cancel their partnerships with Silvergate Financial institution.
The uncertainty relating to the way forward for the financial institution and its total impression on the cryptocurrency sector might have brought about a knee-jerk response. Nonetheless, if the contagion doesn’t unfold, the draw back could also be restricted.
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