Cryptocurrency bank Anchorage Digital will lay off approximately one-fifth of its staff, according to a report from Bloomberg on March 14. Anchorage lays off 20% of staff Bloomberg reported that, based on statements from Anchorage itself, 75 employees amounting to 20% of the company’s staff would be laid off. Anchorage cited regulatory uncertainties as the…
The New York State Department of Financial Services (NYDFS) said on March 14 that its closure of Signature Bank was not related to the bank’s crypto industry ties. NYDFS denies Signature was closed over crypto Though Signature worked extensively with crypto firms, a representative has denied that the NYDFS’ decision to shut down Signature was…
Two U.S. regulators have begun an early investigation into the failed Silicon Valley Bank (SVB), according to a report from the Wall Street Journal on March 14. SEC, DOJ reportedly investigating SVB SVB was closed by California financial regulators and taken over by the Federal Deposit Insurance Corporation (FDIC) on March 10. Now, two other…
Ad The recent crypto market rally has pumped the crypto holdings of several bankrupt crypto firms in the last 24 hours, according to the Arkham Intelligence dashboard. During the last 24 hours, flagship digital assets like Bitcoin (BTC) and Ethereum (ETH) rose by more than 7%, respectively. The global crypto market cap also rallied above…
Meanwhile, Binance is not alone in considering a move into traditional finance; with Kraken has also stating its intentions to open a bank, a move into traditional finance these enigmatic crypto founders believe will lead to the eventual holy grail of Web3 — full decentralization. The collapse of FTX has put crypto-friendly banks under increased…
Ad On Friday, March 10, Elon Musk expressed his openness to buying Silicon Valley Bank following its collapse. Min-Liang Tan, CEO of Razer, suggested on Twitter that Twitter should purchase SVB and transform it into a digital bank. Musk responded briefly, stating, “I’m open to the idea,” without providing additional information. I’m open to the…
Ad The following is a guest post by Anndy Lian. The crypto industry is currently experiencing anxiety due to concerns about the potential detachment of USDC, a stablecoin supported by US dollars. As an individual who closely monitors the market, I have been observing the situation and would like to share some of my personal…
Ad U.S. Senator Elizabeth Warren’s latest tweet about “sham crypto audits” and holding auditors “accountable” has caused a furor among the Twitter crypto community. The community said the tweet was Warren’s latest attempt to demonize the crypto industry and called it “tone deaf” amid the banking crisis involving Silicon Valley Bank (SVB) ‘Sham audits’ Warren…
Ad California-based Silicon Valley Bank (SVB), a unit of SVB Financial Group, has been shut down, according to an announcement from financial regulators on March 10. Silicon Valley Bank closed by regulators The Federal Deposit Insurance Corporation (FDIC) said that the California Department of Financial Protection and Innovation closed SVB today. The FDIC said that…
Ad The U.S. government has appealed a judicial decision that approved the sale of Voyager Digital’s assets to Binance.US, according to a filing on March 9. Two government agencies filed the appeal: the U.S. Attorney’s Office for the Southern District of New York and the Office of the U.S. Trustee. Though the current filing does…