Silvergate Bank, a crypto-friendly institution, collapsed this year due to its over-dependence on risky crypto deposits and nepotism that led to ineffective management, according to the Federal Reserve’s Office of Inspector General. In 2013, the bank changed its strategy to focus on customers engaged in crypto activities, leading to rapid growth from $1 billion to […]
Recent advancements in Hong Kong’s crypto space could provide a potential boost to the East Asian region, which has been largely affected by a China-wide ban on crypto trading activities since 2019. According to a report from Chainalysis, East Asia’s share of crypto transaction value dropped from around 30% in 2019 to less than 10% […]
UBS Asset Management, a major global fund management company, has launched its first “live pilot” of a tokenized money market fund on the Ethereum blockchain. The company is using its proprietary service, UBS Tokenize, to explore on-chain processes such as subscriptions and redemptions. This pilot program is part of the broader Project Guardian, an initiative […]
Grayscale Investments has filed with the U.S. Securities and Exchange Commission (SEC) to convert its Ethereum Trust (ETHE) to a spot Ethereum exchange-traded fund (ETF). The Ethereum Trust is the largest Ether investment product in the world, with nearly $5 billion in assets under management.Meanwhile, Shiba Memu’s presale has surpassed the $3.5 million mark. The […]
Sam Bankman-Fried, often referred to as SBF, is facing one of the most significant legal battles in the crypto industry. SBF was a renowned figure in the crypto industry, leading the celebrity-endorsed cryptocurrency exchange FTX. However, the U.S. government has charged SBF with seven primary charges, including wire fraud, conspiracy to commit wire fraud, conspiracy […]
Ripple’s potential Initial Public Offering (IPO) has sparked intense speculation in the XRP community. Wall Street financial veteran Linda Jones has suggested a potential valuation of Ripple’s stock at $35 per share, with a potential to soar up to $600. This could have a significant impact on XRP’s price, as a surge in Ripple’s stock […]
Chainalysis, a blockchain analytics firm, has reduced its headcount by 15% this week, amounting to approximately 135 staff. This is the second round of cuts for the company this year due to the ongoing crypto bear market reducing the demand for commercial products. A spokesperson for Chainalysis confirmed the firm had around 900 employees before […]
Bitcoin’s price has surged above the $28,400 level, triggering $110 million in liquidations across the cryptocurrency futures market. The asset’s value has shot up since yesterday, reaching as high as $28,500. Other top assets in the sector have also seen rallies of their own.The crypto sector has seen many liquidations in the past day, with […]
JPMorgan CEO Jamie Dimon believes that artificial intelligence (AI) could be applied to every single process of the firm’s operations and may even replace humans in certain roles. In an interview with Bloomberg, Dimon said he expects to see “all different types of models” and tools and technology for AI in the future. He added […]
Crypto analyst Dark Defender has presented a bullish prediction for the XRP price, with a target of $5.85, a 1,100% increase from its current price of $0.523. The analysis is based on the fact that XRP closed the month of September with a Doji, meaning that the price of the digital asset had closed the […]
