Breaking: Kraken to suspend Plaid withdrawals and deposits via ACH Silvergate
Cryptocurrency exchange giant Kraken is experiencing withdrawal and deposit channels related to the automated clearing house via silver gate.
Kraken has notified that its users will be unable to support ACH deposits and withdrawals starting on 27, March.
Kraken has advised users to take a look at available funding options to order to ensure an uninterrupted funding experience, including MVB Bank for Fedwire deposits and withdrawals as well other instant buying options.
According to Krakn "our team is working to make ACH funding available again as soon as possible"
KRAKEN WILL “NO LONGER SUPPORT ACH DEPOSIT AND WITHDRAWALS” STARTING MARCH 27TH.— DIRTY BUBBLE MEDIA: BYE BYE BYE (@MikeBurgersburg) March 22, 2023
CHOKE CHOKE CHOKE pic.twitter.com/kKLpWi5oYi
Kraken exchange trading is more than $1 billion daily volume, in 2019 Kraken joined the Silvergate exchange network that allowed the firm to offer deposits and withdrawals in U.S dollars from Silvergate accounts.
On March 2, the Winklevoss brothers founded the exchange Gemini also stopped accepting customer deposits and processing withdrawals via Silvergate ACH and Wire transfers.
Related: Bankrupt FTX exchange seeks to recover $460M from SBF-backed venture capital firm