Strong U.S. equities and a floundering dollar normally serve to boost BTC price action — but Silvergate is the elephant in the room. Bitcoin (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Bad news holds Bitcoin back Data from Cointelegraph Markets Pro…
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Crypto-friendly bank Silvergate has been forced to return $9.85 million to BlockFi as part of the crypto lender’s ongoing bankruptcy proceedings. According to documents made available on the website of BlockFi’s restructuring advisor, the bankruptcy court overseeing BlockFi’s restructuring process ordered Silvergate to immediately release $9.85 million to the now-defunct crypto lender on Friday. … Read More:…
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The total crypto market cap slipped below $1.025 trillion as concerns over Silvergate Bank’s solvency triggered a sharp sell-off in BTC, ETH and altcoins. Cryptocurrency markets experienced a relatively calm month in February as the total market capitalization gained 4% in the period. However, the fear of regulatory pressure appears to be having an impact…
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MicroStrategy has denied any meaningful exposure to Silvergate as crypto firms who dealt with the crypto bank are rushing for the exits amid concerns about its financial condition. In a recent tweet, business intelligence firm MicroStrategy clarified that their Bitcoin holdings, valued at $2.9 billion and comprising over 130,000 Bitcoin, are not held in custody…
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On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s…
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Following the alleged troubles at Silvergate Bank, Coinbase announced that the crypto exchange will no longer accept or initiate payments with Silvergate. Cryptocurrency exchange Coinbase announced that it had terminated its partnership with Silvergate Bank as its U.S. dollar banking partner, citing the ongoing investigation. In an announcement tweet, the exchange said: “In light of…
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Crypto-friendly bank Silvergate has delayed filing its 10-K, an annual report on the financial health of the company. The news has sent its stock price down 31%. Silvergate Bank has announced that it will delay the filing of its annual 10-K report, which has sent its stock price down over 30% after hours. A 10-K…
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The filing is the latest proposed class action in a string of lawsuits aimed at Silvergate over the last two months about its links with Sam Bankman-Fried and defunct crypto exchange FTX. Silvergate Bank and its CEO Alan Lane have been accused of “aiding and abetting” a “multibillion-dollar fraudulent scheme orchestrated by Sam Bankman-Fried (SBF)”…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: PayPal Held $604M in Crypto on Dec. 31, Microsoft Fired its Metaverse Team, Binance Incorporated zk-SNARKs into its Proof-of-Reserves Verification Read more »Sign up for e-EUR – the…
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