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India’s SVC Bank Clarifies Its Business is Safe as Some Confuse it With Collapsed SVB
The SVC bank, headquartered in Mumbai, has clarified that it has no relation with US’ Silicon Valley Bank (SVB) that shuttered this week. The similarity in the acronyms of their names have seemingly left some people in India confused.
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Crypto Bank Anchorage Digital Lays Off 20 Percent of Its Staff Amid Shutdowns, Looming Uncertainties
Citing regulatory uncertainty, San Francisco-based Anchorage Digital bank has laid off 20 percent of its work force, leaving 75 employees jobless. The lender is trying to face the oncoming macroeconomic challenges fuelled by crypto volatility with a strategic approach.
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Crypto Players Left in Lurch as Signature Bank, SVB, Silvergate Collapses Shake Up Financial Market
The past week has witnessed the unbanking of the crypto sector in the US with three pro-crypto banks — Silvergate, Signature, and the Silicon Valley Bank — put an end to their operations. The shortage of cash as well as the pressure to keep their businesses afloat amid the ongoing financial market slump made the US authorities to step in and ta...
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Bitcoin Continues to Lose Steam in Silvergate Shutdown Aftermath, Most Altcoins Record Losses
The overall crypto sector valuation sunk by 6.73 percent in the last 24 hours. Bitcoin, along with Ether, Solana, and Polkadot joined majority popular altcoins in settling with losses. The reason behind this severe slump in the market is crypto titan Silvergate Bank’s decision to liquidate and shut operations as well as the upcoming interest rate...
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Silvergate Bank Announces Plans to Shut Down Amid Market Turmoil Following FTX Collapse
Silvergate Bank, a titan in the cryptocurrency banking business on Wednesday announced that it would shut down amid market turmoil and increasing pressure from regulators following the collapse of crypto firm FTX. Last week, Silvergate shut down its payments network, which allowed customers to transfer funds around the clock.
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Silvergate in Talks With FDIC Officials on Ways to Avoid Shutdown: Report
Silvergate Capital is currently in talks with US federal officials on ways to avoid a shutdown of the bank, according to a report. The bank made a "risk-based decision" to discontinue the Silvergate Exchange Network last week, and stated that it was delaying its annual report and said it was evaluating its ability to operate as a going concern.
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Bitcoin Price Hovers Around $22,000 as Small Dips in Value Lower Prices of Most Altcoins
In the last 24 hours, the overall crypto market valuation dipped by 0.58 percent. Bitcoin joined other altcoins like Monero, Dash, and some stablecoins in recording minor gains. Loss-making Ether, on the other hand, was joined by Solana, Polkadot, and Polygon among others in settling with significant losses.
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Crypto Lender Silvergate's Shares Slumps 29 Percent as Firm Delays Annual Report in Wake of FTX Fallout
Shares of cryptocurrency lender Silvergate Capital slumped 20 percent in premarket trading on Thursday, after the firm warned it was delaying its annual report and said it was evaluating its ability to operate as a going concern.
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Bitcoin Drops to $22,000 Mark, Most Altcoins Lose Steam Amid Silvergate Chaos
The overall crypto market valuation dropped by 4.45 percent in the last 24 hours. From stablecoins to other altcoins like Ether, Cardano, Solana, and Polygon — all recorded losses. The ongoing investigation into crypto-friendly bank Silvergate’s business practices has emerged as a big reason that may have triggered this crypto turmoil.
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Silvergate Capital Delays Plans to Launch Its Own US Dollar-Pegged Stablecoin
Silvergate bank’s big stablecoin project will not meet its goal of launching this year, President and CEO Alan Lane said on the company’s analyst call. Silvergate in January purchased the assets of Meta’s failed Diem blockchain project with plans to use the technology to launch a US-dollar-backed stablecoin.
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MicroStrategy Adds More BTC to Its Kitty After Securing Bitcoin-Backed Loan From Silvergate Bank
US-based business intelligence firm MicroStrategy had added more Bitcoin to its kitty after acquiring a Bitcoin-backed loan from Silvergate Bank about a week ago.
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Facebook-Backed Crypto Project Diem Sold After Pushback
The Facebook-backed digital currency project Diem announced Monday the winding down and $182-million (roughly Rs. 1,360 crore) sale of its technology, capping a years-long initiative that drew significant concern from regulators.
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Facebook-Backed Cryptocurrency Project Diem to Launch US Stablecoin in Major Shift
Digital currency group Diem Association, formerly known as Facebook's Libra project, plans to launch a US dollar stablecoin as it scales back its global ambitions to focus on the United States, the group said.
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India’s SVC Bank Clarifies Its Business is Safe as Some Confuse it With Collapsed SVB
The SVC bank, headquartered in Mumbai, has clarified that it has no relation with US’ Silicon Valley Bank (SVB) that shuttered this week. The similarity in the acronyms of their names have seemingly left some people in India confused.
-
Crypto Bank Anchorage Digital Lays Off 20 Percent of Its Staff Amid Shutdowns, Looming Uncertainties
Citing regulatory uncertainty, San Francisco-based Anchorage Digital bank has laid off 20 percent of its work force, leaving 75 employees jobless. The lender is trying to face the oncoming macroeconomic challenges fuelled by crypto volatility with a strategic approach.
-
Crypto Players Left in Lurch as Signature Bank, SVB, Silvergate Collapses Shake Up Financial Market
The past week has witnessed the unbanking of the crypto sector in the US with three pro-crypto banks — Silvergate, Signature, and the Silicon Valley Bank — put an end to their operations. The shortage of cash as well as the pressure to keep their businesses afloat amid the ongoing financial market slump made the US authorities to step in and ta...
-
Bitcoin Continues to Lose Steam in Silvergate Shutdown Aftermath, Most Altcoins Record Losses
The overall crypto sector valuation sunk by 6.73 percent in the last 24 hours. Bitcoin, along with Ether, Solana, and Polkadot joined majority popular altcoins in settling with losses. The reason behind this severe slump in the market is crypto titan Silvergate Bank’s decision to liquidate and shut operations as well as the upcoming interest rate...
-
Silvergate Bank Announces Plans to Shut Down Amid Market Turmoil Following FTX Collapse
Silvergate Bank, a titan in the cryptocurrency banking business on Wednesday announced that it would shut down amid market turmoil and increasing pressure from regulators following the collapse of crypto firm FTX. Last week, Silvergate shut down its payments network, which allowed customers to transfer funds around the clock.
-
Silvergate in Talks With FDIC Officials on Ways to Avoid Shutdown: Report
Silvergate Capital is currently in talks with US federal officials on ways to avoid a shutdown of the bank, according to a report. The bank made a "risk-based decision" to discontinue the Silvergate Exchange Network last week, and stated that it was delaying its annual report and said it was evaluating its ability to operate as a going concern.
-
Bitcoin Price Hovers Around $22,000 as Small Dips in Value Lower Prices of Most Altcoins
In the last 24 hours, the overall crypto market valuation dipped by 0.58 percent. Bitcoin joined other altcoins like Monero, Dash, and some stablecoins in recording minor gains. Loss-making Ether, on the other hand, was joined by Solana, Polkadot, and Polygon among others in settling with significant losses.
-
Crypto Lender Silvergate's Shares Slumps 29 Percent as Firm Delays Annual Report in Wake of FTX Fallout
Shares of cryptocurrency lender Silvergate Capital slumped 20 percent in premarket trading on Thursday, after the firm warned it was delaying its annual report and said it was evaluating its ability to operate as a going concern.
-
Bitcoin Drops to $22,000 Mark, Most Altcoins Lose Steam Amid Silvergate Chaos
The overall crypto market valuation dropped by 4.45 percent in the last 24 hours. From stablecoins to other altcoins like Ether, Cardano, Solana, and Polygon — all recorded losses. The ongoing investigation into crypto-friendly bank Silvergate’s business practices has emerged as a big reason that may have triggered this crypto turmoil.
-
Silvergate Capital Delays Plans to Launch Its Own US Dollar-Pegged Stablecoin
Silvergate bank’s big stablecoin project will not meet its goal of launching this year, President and CEO Alan Lane said on the company’s analyst call. Silvergate in January purchased the assets of Meta’s failed Diem blockchain project with plans to use the technology to launch a US-dollar-backed stablecoin.
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MicroStrategy Adds More BTC to Its Kitty After Securing Bitcoin-Backed Loan From Silvergate Bank
US-based business intelligence firm MicroStrategy had added more Bitcoin to its kitty after acquiring a Bitcoin-backed loan from Silvergate Bank about a week ago.
-
Facebook-Backed Crypto Project Diem Sold After Pushback
The Facebook-backed digital currency project Diem announced Monday the winding down and $182-million (roughly Rs. 1,360 crore) sale of its technology, capping a years-long initiative that drew significant concern from regulators.
-
Facebook-Backed Cryptocurrency Project Diem to Launch US Stablecoin in Major Shift
Digital currency group Diem Association, formerly known as Facebook's Libra project, plans to launch a US dollar stablecoin as it scales back its global ambitions to focus on the United States, the group said.
