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At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the company’s assets. The news follows significant financial troubles the bank faced, and the firm’s stock plummeted in value. Details of Silvergate’s Wind Down and Liquidation Plan Over the last six months, Silvergate Capital Corporation’s
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Crypto exchange Gemini took to Twitter on March 8 to deny rumors about its banking relationship with United States financial conglomerate JPMorgan being terminated. In a brief and straightforward message, Gemini stated that “despite reporting to the contrary, Gemini’s banking relationship remains intact with JPMorgan.” The comments came in response to a previous report that claimed
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Officials of the United Kingdom’s Financial Conduct Authority (FCA) appeared before the House of Commons’ Treasury Committee on March 8 to discuss the agency’s work. Among the issues raised was cryptocurrency regulation, which the officials approached with a clear lack of enthusiasm. FCA chair Ashley Alder, who took that position in February after serving as
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On March 7, onchain observers noticed that Vitalik Buterin, the co-founder of Ethereum, had allegedly sold billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated $700,000 in value. The market liquidity of the airdropped tokens was shallow, and the relatively unknown ERC20 tokens plummeted in value after Buterin reportedly sold
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Bitcoin’s price (BTC) fell below a four-day narrow trading range near $22,400 on March 7 following comments by U.S. Federal Reserve Chair Jerome Powell as he sat before a Senate banking committee. During the congressional appearance, the Fed chairman warned that the bank is prepared to tame inflation by pushing for more significant interest rate
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Federal Reserve Chairman Jerome Powell has warned that “the ultimate level of interest rates is likely to be higher than previously anticipated.” In addition, if faster tightening is warranted, the Fed “would be prepared to increase the pace of rate hikes,” Powell said. The Fed Anticipates Higher Rates, Faster Hikes Federal Reserve Chairman Jerome Powell
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Like it or not, for crypto investors, the U.S. Federal Reserve policy on interest rate hikes and high inflation is the single most relevant measure for gauging demand for risk assets. By increasing the cost of capital, the Fed boosts the profitability of fixed-income instruments, but this is detrimental to the stock market, real estate,
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The United States Commodity Futures Trading Commission, or CFTC, was a part of discussions on a regulatory framework for digital assets as well as use cases for blockchain technology. In a March 8 meeting of the CFTC’s Market Risk Advisory Committee, commissioners, regulators, and industry representatives were scheduled to discuss “critical policy considerations” as part
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Bitcoin (BTC) fell to three-week lows on March 8 as stronger-than-expected employment data from the United States dampened risk assets. Employment stats boost Fed hawks, BTC price dips Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $21,858 on Bitstamp. The pair was attempting to preserve $22,000 as support at the time of
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Artist: Terrell Jones, MichiganDate minted first NFT: March 28, 2021Which blockchains? Ethereum, Tezos Influenced by classic gangster films, Terrell Jones has a distinctive style that captures imagination and nostalgia. He is about to auction a second piece at Sotheby’s and has a patented “soft-shell taco method” to garner the attention of notable collectors.  Who is
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