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The total crypto market cap slipped below $1.025 trillion as concerns over Silvergate Bank’s solvency triggered a sharp sell-off in BTC, ETH and altcoins. Go to Source Powered by WPeMatico
FTX and FTX US together have billions in deficits in their exchange wallets and fiat accounts, uncovered in a “huge effort” according to the exchange’s CEO. Go to Source Powered by WPeMatico
On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s … Read more
Singh’s former colleagues Ellison and Wang consented to stays in their CFTC cases; Singh has agreed to submit a consent order proposal in the CFTC case. Go to Source Powered by WPeMatico
Despite Hodlnaut creditors insisting on the firm’s liquidation, the founders keep trying to save the business and sell it to potential investors. Go to Source Powered by WPeMatico
Roughly 11 days ago, it was reported that Nishad Singh, the former director of engineering at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh pleaded guilty to criminal charges and stated, “I am unbelievably sorry for my role in all of this.” Singh Cooperating With Authorities in FTX Investigation; … Read more
According to a recent report from sources familiar with the matter, Mastercard and Visa, the credit card and payment services giants, are halting new partnerships with cryptocurrency firms. This news comes after the collapse of several cryptocurrency ventures that offered crypto debit cards and failed due to financial difficulties last year. After the report published, … Read more
Nishad Singh has reportedly agreed to plead guilty to one count of wire fraud, one count of conspiracy to commit wire fraud on FTX customers, and one count of conspiracy to commit commodities fraud. Go to Source Powered by WPeMatico
Wrapped Bitcoin garnered DeFi traders’ support in the 2021-22 bull season, but the demand started to fade post numerous crypto contagions led to redemptions. Go to Source Powered by WPeMatico
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 eroded trust. The following is a look at … Read more