MicroStrategy confirmed that none of its 130,000 BTC is custodied by Silvergate. However, the firm does have a loan to pay off to the bank by Q1 2025.
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MicroStrategy confirmed that none of its 130,000 BTC is custodied by Silvergate. However, the firm does have a loan to pay off to the bank by Q1 2025.
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Following the alleged troubles at Silvergate Bank, Coinbase announced that the crypto exchange will no longer accept or initiate payments with Silvergate.
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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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The filing is the latest proposed class action in a string of lawsuits aimed at Silvergate over the last two months about its links with Sam Bankman-Fried and defunct crypto exchange FTX.
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The crypto bank hasn’t been accused of wrongdoing, but prosecutors want to see how deep the dealings between the crypto bank and FTX went.
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ETH price is finding support at $1,560 and multiple data points are beginning to hint at a possible rally to $1,800 before the end of February.
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January has been a rough month for Silvergate, with the dividend halts coming just a few weeks after it announced a Q4 2022 loss of $1B and laid off 200 employees.
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ETH price continues to encounter resistance at the $1,600 level, a potential sign that the current rally lacks sustainable momentum.
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The report highlighted that the average deposits in the fourth quarter were $7.3 billion which was lower than the third quarter which had $12 billion.
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