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Billionaire Warns of Imminent Bank Runs if Government Fails to Guarantee All SVB Deposits
12.3.2023
Billionaire Bill Ackman has warned of “vast and profound” consequences of the U.S. government letting Silicon Valley Bank (SVB) fail without protecting all depositors. “No company will take even a tiny chance of losing a dollar of deposits as there is no reward for this risk....
‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion
11.3.2023
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture...
US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual
10.3.2023
After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can withdraw their funds on Monday after the FDIC took over...
Crypto Exchange Bybit Suspends USD Deposits
6.3.2023
The exchange announced the suspension on Saturday, adding that withdrawals through wire transfers, including SWIFT, will be halted from March 10
Crypto Exchanges Binance and Kuna Suspend Card Transactions in Ukrainian Hryvnia
5.3.2023
Major cryptocurrency exchanges operating in Ukraine have temporarily suspended operations with hryvnia bank cards. The measure stems from restrictions imposed by the country’s central bank, Binance and Kuna indicated in comments for crypto media. Ukrainians Unable to Trade Crypto Assets Using Cards...
Bybit Halts US Dollar Deposits via Bank Transfer Due to Service ‘Outages’ From Partner
4.3.2023
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...
Lido’s Liquid Staking Protocol Dominates with $9.3B in Locked Ethereum, Boosted by Tron Founder’s Deposits
2.3.2023
During the past 30 days, the total value locked (TVL) in Lido Finance’s liquid staking protocol increased by 10.57%, with 7.56% of the increase occurring within the last seven days. The protocol’s dominance in decentralized finance (defi) has also increased, with its TVL accounting...
5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter
26.2.2023
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also...
US Banking Regulators Warn Banks About Crypto Liquidity Risks
23.2.2023
The Federal Reserve and other U.S. banking agencies are warning banks that crypto poses significant liquidity dangers, according to a joint statement issued Thursday, further reinforcing their campaign to generally steer lenders away from digital assets
Former FTX CEO Sam Bankman-Fried Faces New Charges in Multi-Billion Dollar Fraud Case
23.2.2023
Sam Bankman-Fried (SBF), the disgraced co-founder of FTX, faces four more charges after a new indictment was unsealed on Wednesday. The charges include operating an unlicensed money transfer business and conspiring to commit bank fraud. SBF Gets 4 New Charges Tacked Onto His Indictment The former...
SEC and CFTC Lawsuits Against Former FTX CEO Paused Until Criminal Proceedings Conclude
14.2.2023
Two civil lawsuits, stemming from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), against former FTX CEO Sam Bankman-Fried will be paused until his criminal proceedings are complete. US Attorney Requests Pause on SEC and CFTC Lawsuits...
Binance Halting US Dollar Deposits and Withdrawals via Bank Accounts
7.2.2023
Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said....
Crypto Exchange Binance to Suspend US Dollar Bank Transfers This Week
6.2.2023
The suspension is expected to last at least two weeks while the exchange finds a new banking partner
Bank of Spain Greenlights Euro-Backed Stablecoin Token Pilot Program
23.1.2023
The Bank of Spain has given approval for the launch of a pilot program involving the issuance and usage of euro-pegged stablecoins. The program, which MONEI, a fintech institution, is launching, will allow users to issue digital euros with fiat deposits in order to experiment with these in payment...
FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate
18.1.2023
On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with...
Airtm Winds Down Cryptocurrency Trading, Exchanges All Funds to Native Stablecoin
9.1.2023
Airtm, a Latam popular cryptocurrency exchange and wallet, has announced it is winding down cryptocurrency trading and custody in its platform. The company stated that starting Jan. 4, 2023, all cryptocurrency deposits and withdrawals would be paused due to the changes in the service offer of...
Report: Confirmation of Silvergate’s $8 Billion Deposit Plunge Sees Stock Price Drop by More Than 40%
6.1.2023
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....
Silvergate Bank Suffers Run on Deposits as $8.1 Billion is Withdrawn - Will it Go Bust?
6.1.2023
Silvergate Capital, a crypto-focused bank, suffered a bank run following the collapse of cryptocurrency exchange FTX, which forced the company to sell assets at a significant loss in order to honor $8.1 billion worth of customer withdrawals....
Read More: Silvergate Bank Suffers Run on Deposits...
Silvergate in Trouble: Crypto Bank Cuts Staff by 40% Amid a 68% Decline in Crypto Deposits
5.1.2023
Trouble is brewing for crypto bank Silvergate as the company cuts staff by 40% and sells assets at a loss to cover $8.1 billion worth of customer withdrawals. Furthermore, the company's crypto-related deposits saw a 68% decline in the fourth quarter of last year.
According to a Thursday report by...
US Bankruptcy Court Rules Celsius Deposits Belong to the Firm
5.1.2023
A New York bankruptcy court has ruled the deposits on high-interest-earning accounts belong to Celsius, the embattled former cryptocurrency lending firm, that filed for Chapter 11 bankruptcy protections in July. The decision establishes a precedent that might affect the status of other, similar...