Circle Internet Financial, a USDC stablecoin company, said on Twitter Friday that it is withdrawing from “some of the services in which” California-based cryptocurrency bank Silvergate Capital Corp. participates, joining a growing list of companies distancing themselves from the financially struggling U.S. bank.

Silvergate said Wednesday that it could not meet the March 16 deadline to file its 10-K annual report, which shows the company’s publicly traded financials, with the U.S. Securities and Exchange Commission because of business and regulatory problems.

Following the announcement, Silvergate shares fell 57.7 percent Thursday, and global cryptocurrency companies Crypto.com, Coinbase, Gemini and Galaxy Digital severed business ties with Silvergate as a banking partner.

The company reported a net loss of $949 million for 2022, compared with a net profit of $75.5 million in the previous year, according to a profit and loss statement released in January. The company attributed the loss to a “crisis of confidence” in the sector.

Silvergate provided banking services to a number of cryptocurrency companies, including Sam Bankman-Fried’s bankrupt FTX exchange. Last month, Silvergate was the subject of a prosecutorial investigation into its dealings with FTX and its affiliated brokerage, Alameda Research.