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Amid the demise of Silvergate Bank and the troubles faced by Silicon Valley Bank (SVB), market analysts believe Signature Bank (SBNY) may be a buy as it’s considered the “last game in crypto-town,” according to Wells Fargo equity analyst Jared Shaw. Silvergate’s liquidation caused SBNY shares to sink on Friday, dropping more than 13% as […]
Silicon Valley Bank Faces Financial Woes as Stock Is Halted, Sells $21 Billion Bond Portfolio at a $1.8 Billion Loss
On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8 billion loss. CEO Greg Becker insists that the financial institution “will be well positioned” […]
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Cathie Wood’s ARK ignores Silvergate, buys Coinbase stock for 6th straight month
ARK appears unfazed by Silvergate as it increases COIN exposure by over 700,000 shares so far in 2023.
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Silvergate stock plunges 31% after delayed filing raises doubts over future
Crypto-friendly bank Silvergate has delayed its 10-K filing, which reveals the financial health of the company. The news has sent its stock price down 31%.
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Unstoppable Domains and Crypto Browser Opera Widen Scope to Offer Accessible Web3 Identity System
Opera, the Web3 browser, and Unstoppable Domains, the non-fungible token (NFT) domain provider, have announced that users can now access all domain endings, including .x, .crypto, and .nft, across Opera’s browsers. Additionally, Opera and Unstoppable are offering a free .nft domain that matches an Opera user’s Twitter handle after account verification. Opera Expands Web3 Capabilities […]
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Coinbase Agrees to $100 Million Settlement With New York Financial Regulator for Anti-Money Laundering Violations
Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were inadequate from 2020 through 2021. […]
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Japanese Gaming Company Gumi Partners With Square Enix and SBI Holdings to Strengthen Metaverse Pivot
Gumi, a Japanese mobile gaming company, has partnered with Square Enix and SBI Holdings to build new business opportunities around the metaverse. The deal, which also includes the issuance of new stock valued at $52.7 million dollars, will allow the company to acquire financial and content creation experience. Gumi Raises $52.7 Million in Metaverse-Driven Alliance […]
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Publicly-Listed Bitcoin Miner Argo Blockchain Suspends Nasdaq Trading
Bitcoin miner Argo Blockchain announced that it requested the suspension of trading its company shares on Dec. 27, as the company expects to make an announcement on Wednesday, Dec. 28, 2022. The company’s stock has lost 96.34% year-to-date and on Dec. 12, the bitcoin miner “advanced negotiations with a third party to sell certain assets” […]
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Coinbase Secures Regulatory Approval to Operate as a Virtual Asset Service Provider in Ireland
Coinbase has announced it has secured regulatory approval as a virtual asset service provider (VASP) in Ireland, according to a company blog post published on Dec. 21. According to the company, Coinbase has been approved by Ireland’s central bank which means the company can “provide products and services to individuals and institutions in Europe and […]
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Bitcoin’s 60% year-to-date correction looks bad, but many stocks have dropped by even more
Legacy investors often say BTC, ETH and altcoin volatility is too high to warrant a sound investment, but many major corporations have seen even larger drawdowns in their stock prices in 2022.
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