Share this article
Kraken to Suspend ACH Deposits and Withdrawals Following Silvergate Shutdown
The exchange says no other services will be affected by this change.
By Helene Braun
Updated May 9, 2023, 4:11 a.m. Published Mar 22, 2023, 9:11 p.m.
Crypto exchange Kraken will suspend automated clearinghouse (ACH) deposits and withdrawals starting March 27, with the company looking for a new banking partner following the failure of Silvergate Bank.
ACH transfers are the primary system for electronic payments made to and from banks.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“As of March 27, 2023, Kraken clients will no longer be able to use ACH deposits and withdrawals through Silvergate,” the company told CoinDesk in an email. “We are working to make ACH funding options available through alternative funding providers as soon as possible and will communicate details with clients as soon as we can.”
No other services will be affected by this change, Kraken said. The exchange plans to resume ACH deposits and withdrawals as soon as it finds alternative funding providers.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Foundation behind restaking protocol EigenLayer plans bigger rewards for active users
An Incentives Committee would direct programmatic token emissions, focusing allocations on participants that secure AVSs and contribute to the EigenCloud ecosystem.
What to know:
- The Eigen Foundation has unveiled a governance proposal aimed at ushering in new incentives for its EIGEN token, shifting the protocol’s reward strategy to prioritize productive network activity and fee generation.
- Under the plan, a newly formed Incentives Committee would manage token emissions, prioritizing participants who secure Actively Validated Services and expand the EigenCloud ecosystem.
- The proposal includes a fee model that channels revenue from AVS rewards and EigenCloud services back to EIGEN holders, potentially creating deflationary pressure as the ecosystem grows.
Top Stories
