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Coinage Assures Users of Safe Funds Despite Silvergate’s Troubles

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According to reports, CZ, the founder of Coinage, said in a social media message, \”I feel sad to see the news of Silvergate, but at least, they seem to return a

Coinage Assures Users of Safe Funds Despite Silvergates Troubles

According to reports, CZ, the founder of Coinage, said in a social media message, “I feel sad to see the news of Silvergate, but at least, they seem to return all the deposits and protect users in full. Coinage has no asset loss on Silvergate. The funds are safe.”

CZ: Coin has no asset loss on Silvergate

Analysis based on this information:


In a recent social media message, CZ, the founder of Coinage expressed his disappointment in the news involving Silvergate, a US cryptocurrency friendly bank. Despite this, he reassured users that the funds invested in Coinage remain secure.

Silvergate, which is known for being one of the leading options for cryptocurrency exchanges, came under significant pressure after it was found that several top executives allowed the bank’s reputation to suffer. This was due to serious shortcomings in the bank’s anti-money laundering (AML) policies and procedures. The bank was also caught up in the Wirecard insolvency scandal, which further exacerbated its problems.

CZ’s message highlights the fact that Coinage was not affected by any of these issues and that users can rest easy knowing their investments remain secure. The statement is particularly important given how quickly trust in cryptocurrencies can evaporate following reports of asset loss or theft.

One important aspect of CZ’s message is the emphasis on the fact that Silvergate returned all deposits and ensured user protection. This gesture likely contributed to the retention of users’ trust in Silvergate despite the bank’s difficulties.

However, CZ’s message highlights how important it is for crypto exchanges and related financial institutions to have strong AML policies and procedures in place. Given the significant financial risks involved with cryptocurrencies, regulators are imposing stricter measures on exchanges and other crypto financial solutions.

In conclusion, CZ’s statement reinforces the importance of trust in the cryptocurrency industry. Despite news of the troubles at Silvergate, users can rest assured knowing that Coinage remains a reliable and trustworthy financial solution for their crypto needs.

Keywords such as Coinage, Silvergate, asset loss, deposits, and protection are essential in understanding the message’s essence. CZ emphasizes the safety of the user’s funds in his message despite the troubles at Silvergate. The user’s trust in cryptocurrency remains integral to avoid damage to the cryptocurrency industry’s reputation.

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