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On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network. Bybit Suspends USD Deposits, Wire Transfer Withdrawals Open Until March 10 The cryptocurrency exchange Bybit, … Read more
As it stands today, BUSD’s market cap has fallen by nearly $14 billion since its all-time high of $23.49 billion on Nov. 15, 2022. Go to Source Powered by WPeMatico
The price of BTC has fallen a steep 5% in 60 minutes in the early hours of Mar. 3, wiping $22 billion from Bitcoin’s market cap. Go to Source Powered by WPeMatico
On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s … Read more
Silvergate is reportedly facing an investigation from the United States Department of Justice over its alleged role in the FTX collapse, involving Sam Bankman-Fried’s account. Go to Source Powered by WPeMatico
The filing is the latest proposed class action in a string of lawsuits aimed at Silvergate over the last two months about its links with Sam Bankman-Fried and defunct crypto exchange FTX. Go to Source Powered by WPeMatico
Recent data shows that Silvergate Bank, a crypto-friendly financial institution, has become the most shorted stock in the United States, according to the Financial Industry Regulatory Authority. On Tuesday, Silvergate’s stock saw a rise after it was discovered that Citadel Securities holds a 5.5% stake in the bank, according to a Schedule 13G filing with … Read more
Federal prosecutors have seized $697 million in assets, mostly comprised of more than 56 million Robinhood shares worth $526 million, from FTX co-founder Sam Bankman-Fried. Court filings detailed that the U.S. government seized a series of bank accounts belonging to Bankman-Fried, holding millions in cash. US Government Seizes Millions in Cash and Robinhood Shares From … Read more
Silvergate has reportedly laid off 200 members of its staff, which is around 40% of its total number of employees. Go to Source Powered by WPeMatico
The suit is looking to hold Silvergate accountable for its alleged roles in transferring FTX user deposits to Alameda bank accounts. Go to Source Powered by WPeMatico
