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Elizabeth Warren, Bernie Sanders urge closure of ‘$50 billion crypto tax gap’
3.8.2023
U.S. senators including Elizabeth Warren and Bernie Sanders claimed crypto tax evaders are siphoning off billions from the government
Bank of America Faces Scrutiny After Coinbase User Alleges the Bank Closed His Account Over Bitcoin Transactions
15.7.2023
Bank of America has come under scrutiny after a Coinbase user claimed that the bank closed his account over Bitcoin transactions. Coinbase CEO Brian Armstrong quickly addressed the issue, asking other users if they have encountered the same problem with Bank of America. Coinbase’s CEO Raises...
Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes
29.6.2023
The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators...
Prime Trust Faces Closure as Nevada Regulators Take Action – Another Bear Market Victim?
28.6.2023
Crypto custodian Prime Trust is facing imminent closure as Nevada regulators move to shut down the troubled company, potentially making it the latest victim of the crypto bear market.
The regulatory action comes after it was discovered that Prime Trust owed millions of dollars to its customers...
Crypto payments platform Wyre shutters citing bear market conditions
17.6.2023
Wyre has begun the process of winding down and noted that interested parties can now start inquiring about purchasing the firm’s assets
Bali Government Cracks Down on Crypto Payments by Foreign Tourists
30.5.2023
The government of Bali, Indonesia, is cracking down on the use of cryptocurrency as a means of payment by foreign tourists. “Strict actions range from deportation, administrative sanctions, criminal penalties, closure of business premises, and other tough sanctions,” said the governor...
PlayStation Shuts Down Concrete Genie Dev Amidst Continued Pivot To Prestige
5.5.2023
Sony has quietly closed down PixelOpus, one of its first-party PlayStation Studios. Based in San Mateo, California, the studio was responsible for 2014’s Entwined and 2019’s Concrete Genie.Read more
New York Regulator Calls Crypto Theories Associated With Signature Bank Closure ‘Ludicrous’
7.4.2023
Adrienne A. Harris, the superintendent of New York’s Department of Financial Services, has branded as “ludicrous” the claims that the closure of Signature Bank was related to its crypto business. Harris insisted that the bank’s “high percentage of uninsured...
NYDFS Chief Dismisses 'Choke Point 2.0' Theory of Signature’s Closure as 'Ludicrous'
5.4.2023
Signature Bank’s takeover last month was not a part of any so-called “Operation Choke Point 2.0,” according to Adrienne Harris, superintendent of the New York Department of Financial Services (NYDFS), who called the idea “ludicrous.”
Signature’s crypto clients told to close their accounts by April 5: Report
29.3.2023
Any crypto deposits not transferred to another bank by April 5 will be liquidated and a check mailed to the client's address
Kraken Suspends Automated Clearinghouse Deposits and Withdrawals Due to Silvergate’s Closure – What Does This Mean for Users?
23.3.2023
Kraken will suspend automated clearinghouse (ACH) deposits and withdrawals beginning March 27 due to the recent closure of its banking partner Silvergate Bank.
“As of March 27, 2023, Kraken clients will no longer be able to use ACH deposits and withdrawals through Silvergate,” the crypto exchange...
YouTuber Buys Every Single Video Game On The Wii U and 3DS eShops Before They Close
20.3.2023
Nintendo’s decision to close both the Wii U and 3DS eShops might make commercial sense for the company, but for fans and lovers of video game history it’s a disaster, as it’s feared many of the games being removed will disappear and never be seen or made available ever again.Read more
Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator
15.3.2023
The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State Department of Financial Services, the regulator that took possession of the troubled bank on Sunday. The financial watchdog insisted that its decision to put Signature Bank in receivership...
Okcoin suspends USD deposits in wake of Signature Bank closure
13.3.2023
U.S. dollar withdrawals on Okcoin are not affected by the suspension
FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds
13.3.2023
The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under...
Silicon Valley Bank collapse: How SVB stock price performed in 5 years
13.3.2023
Silicon Valley Bank was rated as one of the top banks in America for five years running prior to its closure by U.S. regulators in March 2023
Coinbase Confirms $240 Million Corporate Cash Balance with Signature Bank Amid Lender Closure
13.3.2023
Major crypto exchange Coinbase stated that it has millions in corporate cash balance with the shuttered Signature Bank.
According to a March 13 Twitter thread, as of the close of business on Friday, March 10, Coinbase had "an approximately $240m balance in corporate cash" at Signature.
The...
TrueUSD Says ‘Small Number’ of Users Impacted by Signature Bank Closure
13.3.2023
Stablecoin issuer says USD funds held at Signature bank now fully backstopped by Fed
TrueUSD Says ‘Small Number’ of Users Impacted by Signature Bank Closure
13.3.2023
Stablecoin issuer says USD funds held at Signature bank now fully backstopped by Fed
Blockchain.com Announces Closure of Crypto Asset Management Arm in London Following Market Challenges
10.3.2023
Major crypto platform Blockchain.com is closing its London-based crypto asset management arm less than a year after its launch.
Ongoing market challenges - including price crash(es), exposures to collapsed companies, legal woes, and regulatory scrutiny - have had a significant impact on the entire...