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United States Treasury Secretary Janet Yellen supposedly convinced Federal Reserve Chair Jerome Powell into killing the project, the former Meta executive said. Go to Source
The vulnerability was located in a file that translates human-readable code into machine language for storage. Go to Source Powered by WPeMatico
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
The price of the crypto-focused bank Silvergate Capital’s shares fell by over 40% after it reported a more than $8 billion drop in customer deposits. The share price plunge came just days after U.S. prosecutors reportedly seized collapsed crypto exchange FTX’s accounts held at the bank. Alan Lane, the CEO of Silvergate, denied allegations that … Read more
Mysten Labs, developer of a new blockchain project called Sui, raised $300 million in its latest funding round. The round, which was led by FTX ventures, also had the support of A16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, and Coinbase Ventures, among others. The funds will be directed to continue growing Sui’s infrastructure … Read more
Aptos, a new startup created by some of Meta’s former employees involved in the Diem project, has announced it has raised $200 million for its upcoming goal of creating a scalable blockchain system. The investment, conducted in a strategic funding round, involves some well-known VC names, including Tiger Global, Katie Haun, Multicoin Capital, 3 Arrows … Read more
“Since departing Meta (formerly Facebook) we have been able to put our ideas into motion, ditch bureaucratic red tape, and build an entirely new network,” Aptos stated. Go to Source Powered by WPeMatico
Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin. Silvergate Purchases Diem Operations Silvergate Capital, … Read more
Dorsey said that although Facebook probably started Diem for “the right reasons,” it should’ve used an open-ended protocol like Bitcoin rather than attempting to create its own currency. Go to Source Powered by WPeMatico
It looks like Meta is planning to jump ship, with inside sources saying that the crypto initiative is trying to sell its assets. Go to Source Powered by WPeMatico
