Metropolitan Commercial Bank Exits Crypto Business
Metropolitan Commercial Bank, a leading public bank in the United States, announced its departure from the cryptocurrency business, citing a significant drop in digital currency deposits from $820 million to $275 million as of March 31. The bank, with a capitalization of ...
MicroStrategy Buys More Bitcoins, Expands Crypto Holdings
MicroStrategy, a software development company, has made another significant investment in bitcoins, according to a recent tweet by the company's founder, Michael Saylor. In the tweet, Saylor announced that MicroStrategy had acquired 1,045 bitcoins for approximately $29.3 million, at an average pr ...
Kraken Faces Challenges with ACH Channel Due to Silvergate Bank Issues
Kraken Cryptocurrency Exchange Faces ACH Channel Challenges with Silvergate Bank Kraken, a major cryptocurrency exchange, has recently faced difficulties with its Automated Clearing House (ACH) deposit and withdrawal channel due to issues with its banking partner, Silvergate Bank. As a result, Kr ...
Signature Bank Board Member Accuses US Regulators of Targeting Crypto Industry
A member of Signature Bank's board has accused US regulators of intentionally discrediting the cryptocurrency industry by blocking the bank's operations over the weekend. Barney Frank, a former congressman and board member of Signature Bank, has alleged that the New York City Department of Financ ...
Economist Peter Schiff Urges Followers to Sell Bitcoin Due to Looming Bankruptcies
Renowned economist and outspoken cryptocurrency critic, Peter Schiff, is urging his followers to divest from digital currencies, warning that the industry is on the brink of more bankruptcies in the near future. Schiff cites the recent bankruptcy of Silvergate Bank, which serviced numerous crypto ...
US Authorities Move 40,000 BTC Confiscated from Cybercriminals
US authorities have recently moved a significant amount of Bitcoin, around 40,000 BTC, that was confiscated from cybercriminals. Among these, 9,861 BTC that were seized from the Silk Road darknet market founders were transferred to Coinbase exchange's wallet. This move has led to a decline in ...
Cryptocurrency Market Awaits New Shocks as BTC Rate Collapses
The cryptocurrency market appears to be bracing for further upheavals as the value of BTC experiences a significant 5% drop to $22,250. This follows reports of possible bankruptcy for Silvergate bank, a crucial financial institution that serves some of the largest crypto firms. In response, Si ...
Silvergate Bank at Risk of Closure as it Struggles with Massive Sell-off of Assets and Debt
Silvergate Bank, a financial institution that provides services to major cryptocurrency companies, is in danger of closing down due to a significant sell-off of assets and an inability to repay debts. The bank's shares dropped by 28% to $10 in early March after it announced a delay in its annual ...