Silvergate Bank decides to liquidate its assets and close shop The bank claims it will make full repayment on deposits The cryptocurrency market sees another player close business. Silvergate Bank, the troubled crypto-focused bank, has decided to cease operations and liquidate its assets. In an announcement made today, Silvergate Captial Corporation – the parent companyContinue reading “Crypto-focused Silvergate Bank to shut down operations”

Gemini claimed all is well between the crypto exchange and the banking giant The report comes in days after US federal regulators issued a warning to banks Gemini – a leading American-based crypto exchange – broke its silence on the ongoing reports of leading American banking institution – JPMorgan cutting ties with the crypto exchange.Continue reading “Gemini issues statement on JPMorgan cutting ties with crypto exchange”

Binance.US won the rights to acquire Voyager digital’s assets in the Southern District of New York court The judge presiding the case stated that SEC’s objection was “vague” Binance.US – the American subsidiary of Binance – has defeated the United States Securities and Exchanges Commission (SEC). The American crypto exchange won the rights to acquireContinue reading “Binance US wins court approval to acquire Voyager’s assets”

FTX Debtors filed a lawsuit against Grayscale, DCG, and two of its executives The lawsuit claims that the firm prevented Alameda from redeeming its shares The FTX saga continues to hit the crypto headlines. In its latest, the FTX Debtors have announced a lawsuit against Grayscale Investments, a popular crypto asset management firm. The lawsuitContinue reading “FTX Debtors file lawsuit against Grayscale and Digital Currency Group”

The US SEC filed an emergency action against a crypto hedge fund alledging crypto fraud The commission claims that the firm and its former co-founder misappropriated investor funds The United States Securities and Exchanges Commission (SEC) announced that it filed an emergency action against BKCoin Management LLC – a crypto-hedge fund. Additionally, the action extendsContinue reading “US SEC freezes assets of BKCoin for orchestrating crypto fraud scheme”

The present SEC chair had rejected the offer to serve as an adviser to Binance, as per WSJ Binance reportedly has been “much more intertwined” with its American affiliate than it has disclosed Binance – the world’s largest crypto exchange – sought to onboard Gary Gensler, the current Chairman of the U.S Securities and ExchangesContinue reading “Binance reportedly wanted SEC chair Gary Gensler to be an adviser”

WSJ report alleges Tether of using falsified documents and shell companies to have access to banking services Tether responds to the report by calling it misleading and inaccurate Tether, the issuer of the largest stablecoin, has called the Wall Street Journal report “wholly inaccurate and misleading. The WSJ report accused the firm of using falsifiedContinue reading “Tether (USDT) responds to report on using falsified documents to open bank accounts”

Circle, Paxos, Bitstamp, Gemini, Crypto.com and Galaxy Digital have started to bid goodbye to troubled crypto-focused bank Earlier today, Coinbase announced that it would stop processing payments to Silvergate Bank The woes of Silvergate Bank, a crypto-focused financial services provider, seem to be increasing with each passing hour. The bank has been dropped by sixContinue reading “Six crypto firms join Coinbase in ditching troubled Silvergate Bank”

Coinbase announced that it would not accept payments from or to Silvergate The news comes hours after LedgerX reportedly ended its relationship with the crypto bank Coinbase, a leading U.S.-based crypto exchange, announced it would drop its alliance with Silvergate, a crypto-focused bank. This makes matters worse for the bank, which saw its value plungeContinue reading “Coinbase cuts ties with Silvergate as bank delays annual report filing”

Nishad Singh pleads guilty to six criminal counts Singh was accused of creating the code that let Alameda borrow an unlimited amount of funds Nishad Singh, the former director of engineering of bankrupt crypto exchange – FTX, pleads guilty to United States criminal charges. As per the disclosure made at a court hearing today, SingContinue reading “FTX: Nishad Singh pleads guilty to criminal charges”

Visa and Mastercard push back on their cryptocurrency partnerships as several cryptocurrency firms collapse Visa had previously partnered with FTX to create a payment gateway Visa and Mastercard – leading payment processing firms – have decided to pull back on their crypto push amid the collapse of several notable crypto firms. According to a reportContinue reading “Visa, Mastercard halt crypto partnerships until market condition improves”

Robinhood was subpoenaed by the SEC over a cryptocurrency listing The subpoena was issued days after the collapse of the major crypto exchange – FTX Robinhood, a leading American financial service provider, disclosed a subpoena by the United States Securities and Exchanges Commission (SEC). The disclosure made in the annual report stated that it receivedContinue reading “Robinhood receives investigative subpoena by SEC over crypto listing”