White House ‘aware of the situation’ at Silvergate, says spokeswoman
The spokeswoman said that she won’t be commenting specifically on Silvergate, but the White House will be actively monitoring the situation. Go to Source Powered by WPeMatico
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MicroStrategy, Tether adds to firms distancing from Silvergate as stock dives 57%
MicroStrategy confirmed that none of its 130,000 BTC is custodied by Silvergate. However, the firm does have a loan to pay off to the bank by Q1 2025. Go to Source Powered by WPeMatico
Silvergate stock plunges 31% after delayed filing raises doubts over future
Crypto-friendly bank Silvergate has delayed its 10-K filing, which reveals the financial health of the company. The news has sent its stock price down 31%. Go to Source Powered by WPeMatico
US Federal Reserve denies Custodia Bank’s request for Fed supervision
The Federal Reserve Board has denied the request from crypto-focused Custodia Bank to reconsider its membership to the Federal Reserve System. Go to Source Powered by WPeMatico
Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022
Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to the CEO Alan Lane, the … Read more
Approach with caution: US banking regulator’s crypto warning
The Office of the Comptroller of the Currency (OCC) said the digital asset industry was maturing but was “not yet robust” in its risk management. Go to Source Powered by WPeMatico
Silvergate denies recent FUD, confirms minimal exposure to BlockFi
Silvergate Capital has been quick to distance itself from the now-bankrupt crypto lender BlockFi. Go to Source Powered by WPeMatico
German Crypto Bank Nuri Asks Clients to Withdraw Funds as It Goes Out of Business
Digital asset platform Nuri has told customers to withdraw their funds in the next two months, after taking a hit from the crypto winter. Formerly known as Bitwala, the Berlin-headquartered cryptocurrency bank filed for insolvency earlier this year and failed to find a buyer. Nuri to Maintain Trading Until Last Day of November, Prepares to … Read more
German crypto bank Nuri tells 500K users to withdraw funds ahead of shut down
Nuri will maintain crypto trading services until the end of November, and has encouraged users to withdraw their assets before the mid-December deadline. Go to Source Powered by WPeMatico
Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDC
The Bank of France has successfully completed an experiment involving the use of CBDC to settle listed securities. The test has been carried out with the help of an alliance of partners led by SEBA Bank, a digital asset banking provider based in the Swiss crypto valley. Central Bank and Crypto Company Conduct Successful CBDC … Read more
