Binance Doesn't Have Asset Losses on Silvergate, Says CZ

Binance CEO CZ talked about Silvergate's voluntary liquidation on his Twitter, saying that his exchange doesn't have asset losses on the bank.

Earlier today, crypto-friendly bank Silvergate announced it will wind down operations and voluntarily liquidate the bank. The liquidation plan includes full repayment of all deposits. CZ said,

"Sad to see this happening. But at least, it seems they will return all deposits in full. Protect users. Binance do not have asset losses at Silvergate. Funds are SAFU."

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