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The Securities and Exchange Commission (SEC) has charged Silvergate Bank, once a major player in the cryptocurrency financial sector, for defrauding its investors. The bank is accused of misleading investors about its anti-money laundering controls and the potential impact of the collapse of FTX on its operations. This lawsuit also implicates Silvergate’s CEO, CRO, and CFO…
Bitcoin Price Jumps 15% Following US Regulatory Move Bitcoin’s price surged by 15% on Monday, marking the biggest one-day increase since November 2021’s market turmoil. The rise came after US authorities took steps to allay concerns about the health of the nation’s financial system, leading to a rally in shares of cryptocurrency companies. Bitcoin’s latest…
Crypto Trade Market at Risk Due to Banks Shutdown The digital asset market has experienced a turbulent year, including high-profile blow-ups. The recent shutdowns of SVB Financial Group’s Silicon Valley Bank, Silvergate Capital Corp., and Signature Bank add a new stress level. The shutdown of crypto-friendly bank Silvergate and the closure of its electronic payments…
Bitcoin Falls for Fourth Straight Day Amid Silvergate Bank Troubles The world’s largest cryptocurrency, Bitcoin, has hit a two-month low as a selloff in the digital asset market intensifies following the collapse of another industry leader. The cryptocurrency fell for the fourth consecutive day, dropping 5.7% on Thursday to trade around $20,800. Meanwhile, tokens like…
