On Thursday, March 2nd, a vast number of crypto exchange platforms, including Coinbase, Circle, Paxos, Crypto.com, Bitstamp and more decided to suspend transfers and other business operations with crypto-friendly Silvergate Bank, following the announcement that the finance giant would have to review its books with auditors. Major crypto exchange Kraken appears, on Friday March 3rd, to be the only one maintaining business relations with Silvergate. On Wednesday, Silvergate announced it would have to delay filing some annual documents due to requests from independent auditors, as well as other pending regulatory inquiries. There is also a possibility that the US Department of Justice will begin its own inquiries surrounding the bank’s books. Silvergate’s announcement saw the bank’s share price tumble by over 50% to its all-time low. The crypto market was also affected, as Ethereum (ETH) fell by 1.02% on Thursday, while bitcoin (BTC) declined by 0.99%. A potential Silvergate collapse, unlike that of FTX, could result in increased backlash on the part of regulators, as the bank is more a more mainstream name, especially in the United States.