On March 8, Gemini, a password exchange, denied on Twitter that it had discontinued its banking ties with the American financial conglomerate, JPMorgan. In a concise and straightforward message, Gemini indicates that despite reports of the opposite, Gemini's bank connection with JPMorgan remains intact.

This view should be a response to a previous report that the bank contact between the two companies was coming to an end, but did not disclose the source of the news.

The rumors come at a time when there is uncertainty about the future relationship between foreign banking system software accounts and the password industry. Due to the dramatic collapse of control work pressure accounts and password exchanges FTX, the outflow of capital from the sales market continues to push banks to reduce the openness of cryptocurrency assets as much as possible.

One of the new examples is Yinmen Bank. On March 3, the encrypted bank announced plans to terminate its digital currency payment Internet, claiming that the suspension was a "risk-based determination". Last week, there was increased anxiety about the liquidity crisis that could lead to bankruptcy filings after Silvergate delayed the submission of its financial statements for the current year.

It is reported that Silvergate borrowed $3.6 billion from the U. S. home purchase loan banking system software (FHLB) to ease the surge in withdrawals. FHLB is a consortium formed by 11 regional banks in the United States to actively provide financial support to banks and borrowers.

Another bank that abandons encryption is Signature Bank. In December last year, the company announced plans to reduce encryption services, return assets to customers and close encryption-related accounts. Because of liquidity difficulties associated with the bear market and the bankruptcy of FTX, the bank still raised nearly $10 billion from FHLB software in the final quarter of 2022.

The bank's measures have harmed encryption companies. Now in February, Binance announced that it would suspend bank transfers of dollars. A few weeks ago, in January, the exchange said its SWIFT transfer partner, Signature Bank, would only handle transactions with customers with US dollar bank accounts exceeding $100000.