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Since the bank collapses, efforts to keep crypto companies from the U.S. banking system may have been stepped up. Jason Brett, speaking to CoinDesk TV’s “First Mover” program, said he believes the banks are using the collapses as an excuse to push crypto companies out of the system. Jason Brett, a former regulator at the … Read more
In 2022, the FBI reported that online scams had caused more than $10 billion in losses, the highest annual loss in the last five years. The report also found that the number of online scams had increased by 10 percent in that time period. The FBI’s annual Internet Crime Report found that the more than … Read more
Circle, a leading global crypto finance company, has announced that it has partnered with Cross River Bank to produce and redeem USD Coin (USDC), its flagship stablecoin pegged to the US dollar. Cross River Bank is a well-recognized leader in providing banking services to fintech and crypto firms, including Visa and Coinbase. Circle has partnered … Read more
Bitcoin’s price is falling again as another crypto-friendly institution announces plans to liquidate. This time, the victim is Bitfinex, which is one of the world’s largest bitcoin exchanges. Bitfinex has been struggling to keep up with competition from other exchanges, and it looks like its days are numbered. Silvergate Bank said that it would begin … Read more
Crypto-focused lender Silvergate said it is winding down operations and will liquidate the bank after being financially pummeled by turmoil in digital assets. The company cited the prolonged crypto bear market and the resulting credit squeeze as the reasons for its decision. Silvergate Bank announced on Wednesday that it believes an orderly wind down of … Read more
In the world of cryptocurrency, Bitcoin remains one of the most popular and widely traded assets. Recently, as the Chairman of the US Federal Reserve, Jerome Powell, warned of higher-than-expected interest rates, many investors are questioning whether this will lead to a crash in crypto prices. In this update, we will take a closer look … Read more
Bitcoin’s price prediction has been a hot topic among investors and traders as the weekend volume exceeded $10 billion. The market is currently in a state of flux, with some indicators suggesting a bullish trend, while others point to a bearish scenario. As investors keep a close eye on the market, various factors, including economic … Read more
Flip phones and other non-smartphones could be the key to freedom for Sam Bankman-Fried. Prosecutors and Bankman-Fried’s attorneys are jointly asking the judge to approve a list of restrictions, one of which is the use of a flip phone or other non-smartphone. The lawyers have been working hard to satisfy the concerns of Judge Lewis … Read more
The bank’s own data reveals the rapid acceleration of its novel crypto-banking business and how leaning into digital assets made it vulnerable to the industry’s drama. Silvergate Bank was one of the few remaining banks that catered to the cryptocurrency industry. In the final months of 2022, as the industry imploded, Silvergate lost more than … Read more
Bitcoin, ether and other cryptocurrencies plummeted in value during the early hours of East Asia’s trading day. The market downturn was spurred by reports that South Korea is preparing to ban all cryptocurrency trading. Cryptocurrencies plunged as the business day began in Hong Kong on Friday. Bitcoin (BTC) and ether (ETH) both dropped more than … Read more
