The FTX debacle has triggered a bank run on Silvergate, causing the company to sell off its assets at a loss and cut staff by 40% to cover $8.1 billion worth of customer withdrawals. According to a report published by The Wall Street Journal, the bank liquidated debt that it was holding on its balance
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Fourteen years after Bitcoin’s Genesis block launched a profound disruption in financial services and other industries through the rise of blockchain technology, United States authorities are finally becoming more interested in cryptocurrencies’ future and economic impact. On Dec. 14, the Financial Accounting Standards Board (FASB) discussed new accounting and disclosure requirements for entities holding crypto assets
As the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) approaches its final deadlines before Judge Analisa Torres is set to deliver her verdict, American journalist Charles Gasparino made an allegation that the fintech company could not let go unanswered. Gasparino raised the question of why the SEC focused on
On this week’s episode of Market Talks, Cointelegraph welcomes Mohit Sorout, co-founder of Bitazu Capital, a proprietary algorithmic trading and investment management platform. This week, to kick things off, we get to know a little bit about Sorout, his background in finance and trading. We also dive into his skillset, trading style and unique approach
A hospital in Romania has been targeted in a ransomware attack with the perpetrators seeking payment in cryptocurrency to decrypt its database. The hack prevents the medical institution from reporting to the country’s health insurance fund in order to receive due funding. Botoşani Hospital Blackmailed for Bitcoin, Romanian Media Reports The Saint Gheorghe Recovery Hospital
Cryptocurrency exchanges are introducing various ways to buy Bitcoin (BTC) using the Apple Pay payment method. This comes as a good move for Bitcoin adoption since the Apple Pay digital wallet accounts for more than 507 million mobile wallet downloads and a dominating market share of 43.5% in the United States mobile payments market. This
Daniel Friedberg, controversial lawyer who served as top compliance chief at now-defunkt exchange FTX, has reportedly cooperated with United States’ prosecutors investigating FTX collapse. Friedberg provided details about FTX in a meeting with two dozen investigators hold by the U.S. Attorney for the Southern District of New York’s (SDNY) office on Nov. 22, Reuters reported.
Bitcoin (BTC) traders are desperate for fresh BTC price volatility, but opinions are diverging on when it will come. BTC/USD is currently seeing some of the least volatile conditions in its history, price metrics show. Volatility far from guaranteed Since the FTX crisis, Bitcoin has settled into a historically narrow trading range which refuses to
A New York bankruptcy court has ruled the deposits on high-interest-earning accounts belong to Celsius, the embattled former cryptocurrency lending firm, that filed for Chapter 11 bankruptcy protections in July. The decision establishes a precedent that might affect the status of other, similar cases involving crypto companies like Blockfi and FTX. Celsius Obtains Ownership of
Bitcoin (BTC) is now further below a key moving average than it was at the pit of the March 2020 COVID-19 crash. In a tweet on Jan. 4, popular trader and analyst Rekt Capital revealed just how remarkable the current Bitcoin bear market really is. BTC price 200-week moving average out of reach Not only
The United States Securities and Exchange Commission (SEC) has filed a “limited objection” to crypto exchange Binance.US’s proposed $1 billion takeover of bankrupt crypto lender Voyager Digital, citing a lack of “necessary information.” The limited objection was filed on Jan. 4, with the SEC pointing to a lack of detail regarding Binance.US’s ability to fund
Celebrities had a shaky year promoting crypto firms and projects throughout 2022. Many found themselves named in lawsuits over their alleged promotion of since-failed projects, while others have been relentlessly mocked on social media for their involvement in the first place. From movie stars to television actors, sports stars to musicians, many celebrities may be
Bonk, a meme token modeled after Shiba Inu (SHIB) that launched on Dec. 25, is skyrocketing and some traders believe the token’s trading volume is potentially driving Solana’s (SOL) price up. Over the past 48 hours, SOL price has gained 34%, and in the past 24 hours, Bonk has climbed 117%, according to data from
The Securities Commission of the Bahamas has disputed FTX’s claim that the value of the cryptocurrencies it seized from the bankrupt crypto exchange was not $3.5 billion. The new FTX chief’s “continued lack of diligence when making public statements concerning the Commission is disappointing,” the Bahamian regulator stressed. Bahamas Regulator and FTX Disagree on the
Gold made a strong start to the new year and is trading close to a seven-month high on expectations that the United States Federal Reserve may slow down and hike rates only by 25 basis points in its next meeting on Feb. 1. Cryptocurrency markets have also shown a mild uptick but are yet to
Digital assets funds saw inflows totaling $433 million during 2022, the lowest level since 2018, when inflows in the crypto industry reached $233 million, according to the cryptocurrency investment firm Coinshares. Investors’ appetite for digital assets seems not to have been fully affected by the crypto winter, but otherwise encouraged investments in crypto assets in
