Online scams cost Americans more than $10 billion in 2022, the highest annual loss in the last five years, according to a new report from the FBI. The FBI’s annual Internet Crime Report revealed a more than $3 billion jump in online fraud from 2021 to 2022. This was largely due to a near-tripling in … Read more
Circle, a leading global crypto finance company, has announced that it has partnered with Cross River Bank to produce and redeem USD Coin (USDC), its flagship stablecoin pegged to the US dollar. Cross River Bank is a recognized leader in providing banking services to fintech and crypto firms, including Visa, Coinbase, and Robinhood. Circle has … Read more
The Demise of Silvergate Bank has caused the cryptocurrency market to drop below $1 trillion. This is the first time the market has fallen below this threshold in 2019. The market is expected to rebound in the coming weeks. The price of bitcoin is plummeting after another crypto-friendly institution announced plans to liquidate. Silvergate Bank … Read more
United States District Judge Lewis Kaplan is considering modifying FTX founder Sam Bankman-Fried’s bail conditions, but only after attorneys further tighten the restrictions on Bankman-Fried’s access to technology. Kaplan said he’s still not convinced that the founder of bankrupt crypto trading platform FTX wouldn’t be able to circumvent the more-restrictive bail conditions that were filed … Read more
Silvergate, a crypto-focused lender, has announced that it is winding down its operations and will soon be liquidating its bank. This decision has been made in light of the turmoil that the digital asset market has been experiencing as of late. Silvergate Bank believes that an orderly wind down of Bank operations and a voluntary … Read more
In the world of cryptocurrency, Bitcoin remains one of the most popular and widely traded assets. Recently, as the Chairman of the US Federal Reserve, Jerome Powell, warned of higher-than-expected interest rates, some investors question whether this will lead to a crash in crypto prices. In this update, we’ll take a closer look at the … Read more
Bitcoin’s price prediction has been a hotly debated topic among investors and traders as the weekend volume exceeded $10 billion. The market shows mixed signals, with some indicators suggesting a bullish trend, while others point to a bearish scenario. As the market remains closely watched by investors, various factors such as economic data, government regulations … Read more
Flip phones and other outdated technologies could be approved for use in court during the trial of Sam Bankman-Fried. This would be in addition to other restrictions, such as no social media or internet use. The lawyers have been working hard to satisfy the concerns of Judge Lewis Kaplan, who said he could “conceivably” revoke … Read more
The bank’s data shows that its novel crypto-banking business has rapidly accelerated, and how leaning into digital assets made the bank vulnerable to the industry’s drama. Silvergate Bank was one of the first banks to offer services to cryptocurrency companies, and as the industry exploded in popularity in late 2017, the bank’s deposits from crypto … Read more
Bitcoin and ether prices plummeted during East Asia’s morning trading hours. Bitcoin hit a low of $22,277, while ether dipped to $1,563. The sharp decline in prices caused a domino effect throughout the crypto market, with most major coins seeing double-digit percentage drops. The cryptocurrency market started Friday with a major plunge. Bitcoin and ether, … Read more
