Digital Asset Capital Management seeks help from Swiss banks affected by Silvergate

ChainCatcher news, according to Bloomberg, the cryptocurrency hedge fund Digital Asset Capital Management is seeking help from Swiss banks to fill the gap caused by the Silvergate banking system.

Digital Asset Capital Management used Silvergate's around-the-clock real-time network to transfer funds to Coinbase, but exchanges like Coinbase, Crypto.com, and Gemini will no longer accept or initiate payments through Silvergate. Its co-founder Richard Galvin stated, "Finding a banking partner may take some time. We are in talks with some Swiss banks." Digital Asset Capital Management currently manages a $400 million cryptocurrency fund. (source link)