Crypto prime broker FalconX will no longer use the Silvergate Exchange Network (SEN), according to an email sent by FalconX to clients and obtained by The Block.

“Out of an abundance of caution for our customers, we will not be using Silvergate SEN and wires, effective immediately and until further notice,” the email said. “This action is based on publicly available information on Silvergate and is consistent with other market players.”