Silvergate Capital, a crypto-focused bank, suffered a bank run following the collapse of cryptocurrency exchange FTX, which forced the company to sell assets at a significant loss in order to honor $8.1 billion worth of customer withdrawals…. Read More: Silvergate Bank Suffers Run on Deposits as $8.1 Billion is Withdrawn – Will it Go Bust?…
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The body overseeing the securities market in Israel is taking steps to incorporate rules for digital assets into the existing legislation. The regulator released a draft proposal to introduce the changes that would define the legal status of cryptocurrencies in the country. Amendments to Israel’s Securities Laws Aimed at Expanding Supervision Over Crypto Arguing that…
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According to onchain research, wallets connected to Sam Bankman-Fried, the disgraced co-founder of FTX, transferred a significant number of previously unreported transactions across various blockchains. The transfers were discovered by Conor Grogan, a director at Coinbase, and while most of the transactions took place on Dec. 28, there was some recent activity in the first…
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Trouble is brewing for crypto bank Silvergate as the company cuts staff by 40% and sells assets at a loss to cover $8.1 billion worth of customer withdrawals. Furthermore, the company’s crypto-related deposits saw a 68% decline in the fourth quarter of last year. According to a Thursday report by Wall Street Journal, the dramatic collapse of…
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A hospital in Romania has been targeted in a ransomware attack with the perpetrators seeking payment in cryptocurrency to decrypt its database. The hack prevents the medical institution from reporting to the country’s health insurance fund in order to receive due funding. Botoşani Hospital Blackmailed for Bitcoin, Romanian Media Reports The Saint Gheorghe Recovery Hospital…
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Indonesia plans to launch a crypto exchange in 2023 amid a financial sector reform that will see a shift in regulatory powers over digital assets to the Financial Services Authority. Didid Noordiatmoko, head of the Commodity Futures Trading Regulatory Agency of Indonesia (Bappebti), said the government will set up an exchange before the Financial Services…
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A major Ukrainian chain of pharmacies has started accepting cryptocurrency through Binance Pay. The new payment method will be available online, according to the company, which operates hundreds of drugstores across the war-torn Eastern European nation. Pharmacy Offers Ukrainians Option to Pay With Crypto Using Binance Pay Customers of the Ukrainian pharmacy chain ANC can…
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Juno recommended users pull their funds from the platform amid “uncertainty” over the fate of its crypto custody provider Wyre. Fiat-to-crypto on-ramp solution provider Juno has urged its users to sell or self-custody the crypto on its platform citing “uncertainty” with its crypto custodian partner Wyre. In a Jan. 4 tweet, the platform explained it…
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The crypto space received more regulatory attention through the end of 2022. The collapse of one of the largest global digital asset exchanges brought massive losses to the industry. This event spurred several watchdogs to express concerns and issue warning on cryptocurrency engagement. Some US Federal regulators have recently commented on crypto activities’ risks. The…
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Per public filings with the Australian Securities and Investment Commission, a 25-year-old registered a million-dollar-worth trading company at his parents’ house. According to a report, the company successfully traded over $2 billion in Bitcoin and other cryptocurrencies. The trading desk is PO Street Capital, and its founder Darren Nguyen lives in an Australian suburb. The…
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