Silvergate bank
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CZ of Binance Says Binance.US Trading Volume Reached 41% of Coinbase’s Global Volume Last Week
According to reports, CZ, the CEO of Binance, a crypto trading platform, said that the weekly trading volume of Binance. US (excluding Binance) reached a record high of 41% of Coin
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MicroStrategy Repays Silvergate Bank $161 Million Loan with Bitcoin Pledges
It is reported that according to the disclosure submitted to the SEC of the United States, MicroStrategy has signed a prepayment, waiver, and repayment credit and guarantee agreeme
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Silvergate Bank’s Voluntary Liquidation Raises Questions about its Cryptocurrency Ventures
According to reports, the San Francisco Federal Housing Loan Bank (FHLBank) provided $4.3 billion to Silvergate at the end of last year, and did not force Silvergate to repay the advance payment. This is rumored to be the reason why the cryptocurrency friendly bank entered voluntary liquidation. A spokesman for the bank said, “FHLBank San Francisco has not requested or forced Silvergate Bank to prepay its outstanding prepayment. Silvergate has decided to prepay the outstanding prepayment based on its own assessment of its own situation.” FHLBank: Silvergate did not stop lending Analysis based on this information:Recent news about Silvergate Bank’s voluntary liquidation surprised many cryptocurrency experts, as the bank was known for its services catering to cryptocurrency clients. According to reports, the San Francisco Federal Housing Loan Bank (FHLBank) provided $4.3 billion to Silvergate Bank at the end of last year, without forcing it to repay the advance payment. This led to many speculations that the reason behind Silvergate’s voluntary…
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Cryptocurrency Businesses are Affected by Weak Macro Environment
According to reports, Zhu Su, the co founder of Sanjian Capital, posted on social media that he had extensive business dealings with two banks, Silvergate and Signature, which are excellent and customer oriented crypto friendly banks. Unfortunately, the macro environment shows weaknesses in its underlying business model. Zhu Su: I have had a lot of business dealings with two banks, Silvergate and Signature Analysis based on this information:The world of cryptocurrency has been growing exponentially in the past decade. As more businesses are attracted to this technological innovation, the need for banking services that cater to cryptocurrency transactions also increases. In this regard, the co-founder of Sanjian Capital, Zhu Su, took to social media to share his experience with two banks: Silvergate and Signature. According to Su, Silvergate and Signature are excellent banks that are customer-oriented and friendly towards cryptocurrency dealings. This assessment is a significant endorsement for these banks, particularly for companies that need reliable banking partners for their…
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Chip Cash CEO Denies Sale Rumors
On March 15th, it was reported that in response to rumors that the payment company Chip Cash would be considered for sale in the market, the CEO of the company, Ham Serunjogi, issued a clarification statement on its official website, stating that although the collapse of Silicon Valley Bank and Silvergate Bank caused chaos, the impact on Chip Cash was “insignificant”. Although Silicon Valley Bank is the investor of the company, they have very limited funds in their Silicon Valley bank accounts, Only about $1 million, and Chip Cash has not contacted Silvergate Bank, and “has never sought to be acquired.”. Chipper Cash clarifies that banks in Silicon Valley have only about $1 million in funds and have never sought an acquisition Analysis based on this information:The CEO of payment company Chip Cash, Ham Serunjogi, has denied rumors that the company is considering a sale in the market. On March 15th, Serunjogi issued a clarification statement on the company’s official…
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BlockTower Capital Utilizes Closed Banks for Custodianship of Crypto Assets
It is reported that according to the latest regulatory documents required by the investment consultant, four private funds of BlockTower Capital, a crypto asset management company, use the closed Signature Bank and Silvergate Bank as the asset custodian. The total asset value of these funds is about $940 million. BlockTower Capital used Silvergate and Signature Bank as asset custodians Analysis based on this information:BlockTower Capital, a well-known crypto asset management company, has recently disclosed that four of its private funds are using Signature Bank and Silvergate Bank as their asset custodians. The latest regulatory documents reveal that the total value of these funds is approximately $940 million. The use of closed banks is a significant development in the cryptocurrency industry. It is understandable given the current market climate, where the regulation and oversight of digital assets remain a challenge. Crypto asset management companies like BlockTower Capital are trying to avoid legal and regulatory risks associated with traditional banks that allow…
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Bittrex Transfers Customer Deposits in Response to Silvergate Bank’s Closure Announcement
It is reported that Bittrex, a cryptocurrency exchange headquartered in Seattle, announced that, in view of the recent announcement by Silvergate Bank that they
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US Regulatory Authorities May Take Stronger Action against Banks that Provide Services to Encryption Companies- Implications for Cryptocurrency Industry
It is reported that Morgan Stanley said in a research report on Wednesday that the US regulatory authorities may soon intensify their efforts to crack down on b
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Sygnum Bank sees increased customer consultation after Silvergate Bank’s voluntary liquidation
According to reports, Martin Burgherr, the chief customer officer of the Swiss-based Sygnum Bank, said in an interview that after Silvergate Capital Corporation
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Block.one Withdraws Equity in Silvergate Bank Following Failure to Submit Annual Report
According to reports, Block.one, a blockchain software company supported by Peter Thiel, said that after Silvergate Bank failed to submit its annual report last
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Silvergate Bank Announces Voluntary Liquidation and Triggers 42% Drop in Stocks
It is reported that Silvergate (SI. N) rose to 30% before the session and closed down more than 42% on Thursday after announcing plans to end banking business a
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The Fall of Silvergate Bank and the US Stock Market
It is reported that the US stock market of Silvergate rose by more than 19% before the market, and the stock fell by more than 42% overnight after announcing pl
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Marathon Digital terminates credit arrangement with Silvergate Bank
It is reported that Marathon Digital, a Bitcoin mining company, announced the termination of the credit arrangement with Silvergate, a cryptobank. Marathon said
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Paxos Breaks Ties with Silvergate Bank: Ensuring Customer Protection
It is reported that Paxos, the issuer of the US dollar stable currency BUSD, released a statement on Silvergate Bank on social media, which said that Paxos had
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Silvergate Bank Begins Voluntary Liquidation Process in California
It is reported that the California State Financial Protection Agency announced today that Silvergate Bank, a state chartered bank regulated by DFPI, has volunta
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Cryptocurrency CEO Believes Silvergate Bank’s Difficulties Will Not Affect BTC Prices
According to reports, Hany Rashwan, CEO of cryptocurrency company 21. co, said that the difficulties of Silvergate Bank, including the closure of its cryptolen…
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Silvergate Bank’s Investment Strategy Revealed
It is reported that Silvergate Bank, a cryptofriendly bank, invested most of its new funds into longer-term bonds. Before its deposits began to shrink rapidly …
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Marc Cohodes Predicts Closure of Silvergate Bank
It is reported that Marc Cohodes, a short investor who has been short of Silvergate since last year, said that Silvergate Bank is expected to close within a we…
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SilverGate Capital Corp Suspends Payment Network Service due to Risky Business Decision
It is reported that SilverGate Capital Corp, the parent company of the cryptocurrency bank SilverGate Bank, announced that the company suspended the SilverGate…
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US Bankruptcy Judge Orders Silvergate Bank to Return $9.85 Million to Cryptographic Lending Institution
It is reported that according to a court document on Friday, Michael B. Kaplan, a US bankruptcy judge, said that Silvergate Bank must return US $9.85 million t…
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Circle transfers USDC reserves from Silvergate Bank amid uncertainty
According to the report, the official website of Circle, the issuer of stable currency, said that due to the continued uncertainty of Silvergate Bank, today Ci…
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Silvergate Bank Requests Separation of FTX Customer Lawsuits
It is reported that Silvergate Bank said that it requested the court to separate the FTX customer litigation cases. In the previous federal lawsuit, Silvergate…
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Gemini Suspends Exchange Operations with Silvergate Bank
According to reports, Gemini, the cryptocurrency exchange, said on Twitter that it was actively monitoring the situation of Silvergate Bank, but it did not dep…
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Gemini Could be Impacted by Silvergate Bank’s Situation
According to reports, Gemini, the cryptocurrency exchange, said that it was closely following the situation of Silvergate.
Gemini: We are closely follo…
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LedgerX Chooses Signature Bank Over Silvergate Bank for Telegraphic Transfer Fund Receiver
It is reported that both Yahoo and Bloomberg disclosed that LedgerX has chosen to use Signature Bank as its telegraphic transfer fund receiver in order to keep…
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Silvergate Bank delays annual report, share price falls
It is reported that Silvergate Bank announced on Wednesday that it would postpone the submission of its annual report, which led to its share price plummeting …