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” CZ denies report Binance is considering major breakup with US business partners “ Binance CEO Changpeng Zhao has denied a report that the company is considering cutting ties with United States business partners. Binance has been the object of increasing scrutiny from U.S. regulators in recent weeks. Bloomberg reported on Feb. 17 that Binance Holdings…
” The history and evolution of the fintech industry “ The financial technology (fintech) industry has its roots in the late 20th century, with the advent of electronic banking and online stock trading. Since then, fintech has expanded and changed over time as a result of technological and internet advances. As a result, new financial…
” Silvergate suspends dividends to preserve ‘highly liquid balance sheet’ “ California-based crypto bank Silvergate has suspended dividend payouts to preserve its “highly liquid balance sheet.” In a Jan. 27 announcement, the firm stated that it is halting “the payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, in order…
” Fed denies Custodia Bank application to join the Federal Reserve System “ The United State Federal Reserve Board has rejected Custodia Bank’s application to become a member of the Federal Reserve System. In its announcement, the Fed stated that the application was “inconsistent with the required factors under the law.” It also claimed Custodia…
” Silvergate reports $1B net loss in the fourth quarter of 2022 “ Silvergate Bank, which currently faces a class-action lawsuit over its FTX and Alameda dealings, has announced a $1 billion net loss attributable to common shareholders in the fourth quarter of 2022. In a report published by the United States Securities and Exchange…
” New York-based bank exits crypto after tumultuous year “ The last year proved to be another turbulent year for the crypto industry. From a lasting market downturn and exploits in decentralized finance (DeFi) to the FTX scandal, no area was left unscathed. For some, the happenings in the space proved unsustainable for business. The…
” Marathon Digital experiments with overclocking to increase competitive advantage “ One of the largest Bitcoin mining operations in North America, Marathon Digital Holdings, has shared in an update that it has been experimenting with overclocking to increase its competitive advantage in the Bitcoin mining industry. Overclocking is the practice of increasing the clock speed…
” Silvergate sold assets at loss and cut staff to cover $8.1B in withdrawals: Report “ 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…
” US federal agencies release joint statement on crypto asset risks and safe practices “ United States federal bank regulatory agencies started off the new year with a statement on crypto assets looking back at the troubles of the crypto sector in 2022. The Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of…
” US senator Toomey introduces stablecoin bill as congressional session wraps up “ Republican Senator Pat Toomey, who is set to retire from U.S. Congress at the end of the term, has used one of his last few weeks in office to introduce a new stablecoin bill, aimed at creating a regulatory framework for “payment…