Coinbase announced on Thursday that it is no longer accepting or initiating any payments to or from the crypto-friendly bank Silvergate. Recently, Silvergate delayed its 2022 fiscal year 10-K filing with the SEC, citing the need for more time to complete the filing. Following the delay, the financial institution JPMorgan downgraded the company’s stock from “neutral” to “underweight.”

Prior to the opening bell on Wall Street Thursday morning, Silvergate’s shares had slid 17.20% in value over the past five days. At 8:23 a.m. Eastern Time, Coinbase made its announcement. “At Coinbase, all client funds continue to be safe, accessible and available,” the company tweeted. “In light of recent developments and out of an abundance of caution, Coinbase is no longer accepting or initiating payments to or from Silvergate.”