Crypto Hedge Fund Looks to Swiss Banks After Silvergate Exodus

A crypto fund manager overseeing $400 million is looking to Swiss banks to help plug the gap created by the unraveling of a key payments network operated by ailing US lender Silvergate Capital Corp.

Digital Asset Capital Management used Silvergate’s round-the-clock, real-time network to move funds to and from Coinbase Global Inc.’s platform. But Coinbase, Crypto.com and Gemini are among the exchanges that will no longer accept or initiate payments through Silvergate.

(By Suvashree Ghosh)

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Silvergate Capital

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