Silvergate – Page 2

Kraken Suspends Automated Clearinghouse Deposits and Withdrawals Due to Silvergate’s Closure – What Does This Mean for Users?

March 23, 2023

Kraken will suspend automated clearinghouse (ACH) deposits and withdrawals beginning March 27 due to the recent closure of its banking partner Silvergate Bank. “As of March 27, 2023, Kraken clients will no longer be able to use ACH deposits and withdrawals through Silvergate,” the crypto exchange reportedly said in a statement, noting that it is actively looking…
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Yellen defends government intervention to avoid another SVB

March 21, 2023

The Treasury Secretary of the U.S. Janet Yellen said the federal government will intervene if it is necessary to protect other small lenders. Nearly two weeks after the collapse of three United States banks – Silicon Valley Bank (SVB), Silvergate and Signature- Treasury Secretary Janet Yellen said the federal government is ready to take action…
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US exploring ways to guarantee the country’s 18T of bank deposits: Report

March 21, 2023

The current deposit insurance cap under the FDIC is $250,000, but recent banking collapses have seen calls to increase that amount. U.S. officials are reportedly studying ways to expand the current scope of deposit insurance that would guarantee all U.S. bank deposits should the current banking crisis worsen. The current deposit insurance cap under the…
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Bitcoin market cap grows 60% in 2023 as top Wall Street banks lose $100B

March 18, 2023

Bitcoin has decoupled from stocks and continues to rise 10 years after the Cyprus banking crisis coincided with a BTC price boom. The market capitalization of Bitcoin (BTC) has added $194 billion in 2023. Its 66% year-to-date (YTD) growth vastly outperforms top Wall Street bank stocks, particularly as fears of a global banking crisis are…
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Tokenized Diamond Market Booms Amid Crypto Banking Crisis as Investors Seek Hard Assets – Here’s What You Need to Know

March 18, 2023

Amidst the chaos of last weekend’s banking collapses and a major stablecoin depegging, investors found solace in a surprising asset class: tokenized diamonds. As market volatility peaked, reports from CoinDesk show that sales in digitized diamonds skyrocketed by 300%, with Diamond Standard’s marketplace leading the charge. Founder and CEO Cormac Kinney confirms that the surge…
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Banking crisis: What does it mean for crypto?

March 17, 2023

Cointelegraph breaks down the main events that led to the collapse of Silvergate, SVB and Signature Bank and explains what this all could mean for crypto. Last week’s rapid collapse of Silvergate, Silicon Valley Bank (SVB) and Signature Bank has highlighted the fragility of the traditional banking sector while depriving crypto of its primary fiat…
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Today in Crypto: ‘If Government Bans Drugs, It Should Ban Crypto’, SVB Financial Group Files for Bankruptcy, BlockSec Stops Hacker from Stealing ETH 2,900

March 17, 2023

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: ‘If Government Bans Drugs, It Should Ban Crypto’, SVB Financial Group Files for Bankruptcy, BlockSec Stops Hacker from Stealing ETH 2,900 Read more »Sign up for e-EUR –…
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US credit crunch means it’s time to buy gold and Bitcoin: Novogratz

March 16, 2023

The Galaxy Digital CEO predicts tough times ahead for the United States economy but continues to be bullish on crypto. The United States is headed for a credit crunch and now is the right time to buy gold, silver and Bitcoin (BTC), says Galaxy Digital founder and CEO Michael Novogratz. “We are going to have…
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Crypto Companies Shift Funds to Asset Managers Including Fidelity Amidst Banking Turmoil

March 15, 2023

Crypto companies are moving their money from banks to asset managers as the turmoil in global banks continue, but industry insiders don’t see the bank failures as the end of banking for the crypto sector. The turmoil in the banking industry has so far led to three major bank failures in the US with the…
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Today in Crypto: Europol Closes ChipMixer & Seizes BTC 1909, ‘Surge in Cold Storage & ETH Layer 2 Usage’ Post-FTX, Synalcom & Qori Enable Crypto Transactions for 20K Businesses in ‘One Action’

March 15, 2023

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: Europol Closes ChipMixer & Seizes BTC 1909, ‘Surge in Cold Storage & ETH Layer 2 Usage’ Post-FTX, Synalcom & Qori Enable Crypto Transactions for 20K Businesses in ‘One…
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