Moody’s downgraded the ratings of Silvergate Capital and its bank subsidiary Silvergate Bank following the downgrade of its standalone Baseline Credit Assessment to b2 from ba3. Silvergate...
Tag: Finance firms
Coinshares reports bitcoin outflows for the first time since December
Markets • February 21, 2023, 9:31AM EST Coinshares reported outflows from digital asset investment products totaling $32 million last week, the largest weekly amount since December. Outflows ha...
TrueFi token clocks triple digit gain as Binance mints TUSD stablecoin
DeFi lender TrueFi’s token, TRU, jumped over 140% shortly after Binance minted $50 million worth of the TrueUSD stablecoin. Binance minted 49.99 million TRU at around 10 a.m. EST today, ...
Crypto markets rebound as Silvergate soars 16% on Citadel Securities, Susquehanna stakes
Cryptocurrency prices rebounded after yesterday’s decline, when the New York Department of Financial Services announced it will pursue regulatory action against stablecoin provider Paxos. ...
Coinbase, JP Morgan relationship intact amid regulatory crackdown: Sources
Rising regulatory scrutiny isn’t coming between Coinbase and one of its banking partners, JPMorgan Chase. The cryptocurrency exchange and the Wall Street stalwart are sticking together am...
Susquehanna Advisors Group buys 7.5% stake in Silvergate, following Citadel Securities
Susquehanna Advisors Group reported a 7.5% stake in crypto-friendly bank Silvergate Capital. The Pennsylvania-based finance firm bought over 2.36 million shares in Silvegrate, a filing showed. S...
Citadel Securities takes 5.5% stake in crypto-friendly bank Silvergate Capital; shares rise
Shares in Silvergate Capital jumped after market maker Citadel Securities reported a 5.5% stake in the crypto-friendly bank. Ken Griffen’s firm now owns over 1.7 million shares in the La J...
Galaxy Digital gets approval for Bahamas subsidiary amid rising US regulatory uncertainty
Galaxy Bahamas, a subsidiary of Mike Novogratz’s crypto investment firm, received approval from the Securities Commission of The Bahamas in December for registration as a digital asset business ...
Bakkt exits consumer business to focus on B2B as regulators crack down
Bakkt is nixing its consumer app to focus on its business-to-business technology solutions. Bakkt, which offers a platform for commerce to link to cryptocurrency, said it will continue its core ...
PayPal pauses stablecoin project amid Paxos probe: Bloomberg
PayPal’s putting work on its stablecoin on ice amid increasing regulatory scrutiny, Bloomberg News reported, citing a source. The news came a day after a report that the New York Departmen...
Robinhood’s crypto trading revenue dips 24% in Q4, along with most everything else
Robinhood saw transaction revenue fall in the fourth quarter from the previous period, including a 24% decline in cryptocurrencies, while a slew of other numbers also took a turn lower. The firm also ...
Consello Digital names Citigroup alum Itay Tuchman as CEO
Consello Digital tapped a “key architect” of Citigroup’s digital asset strategy to serve as its new CEO, with the firm announcing the appointment of Itay Tuchman on Wednesday. The news comes months af...
Crypto markets tread water ahead of Fed speech
Cryptocurrency prices were little change alongside other risk assets ahead of Federal Reserve Chair Jerome Powell’s speech this afternoon at the Economic Club of Washington. Bitcoin was tr...
Coinshares reports fourth consecutive week of inflows
Coinshares reported a fourth consecutive week of digital asset investment product inflows, totaling $76 million last week. Year-to-date inflows reached $230 million, “highlighting a decisi...
A16z votes against proposal to deploy latest Uniswap iteration on BNB Chain
A proposal to deploy the latest version of decentralized exchange Uniswap on the BNB Chain passed an early temperature check, and a full governance vote on the Uniswap DAO is bringing the heavy hitter...
Pantera exec Joey Krug leaves crypto investment firm: CoinDesk
Pantera Capital co-Chief Investment Officer Joey Krug has left the venture capital and investment firm, CoinDesk reported, citing a letter sent out to partners on Friday. Krug joined Pantera Ca...
Michael Saylor says Silvergate has been ‘responsible’ amid crypto collapse
Microstrategy founder and bitcoin enthusiast Michael Saylor said Silvergate was “responsible” amid the collapse of other crypto institutions including the FTX exchange and said he’d ...
WisdomTree reports fourth quarter loss as crypto holdings fall
WisdomTree, the New York-based asset manager that operates blockchain-enabled funds, reported that the value of its cryptocurrency holdings fell to $136 million at the end of the fourth quarter from $...
Justice Department probes Silvergate’s relationship with FTX: Bloomberg
The Justice Department’s fraud department has begun probing Silvergate’s handling of accounts for Sam Bankman-Fried’s firms, Bloomberg reported, citing unnamed people familiar with the matter. T...
Crypto market continues to rise, while Silvergate shares seesaw after probe report
Bitcoin settled around $23,570 at 5:20 p.m. EST after climbing as high as $24,100 earlier in the day, according to TradingView data. It’s up about 0.4% over the past day following the Federal Re...
MicroStrategy sees fourth quarter loss after it writes down value of bitcoin holdings
MicroStrategy, the software firm better known in recent years for its bet on bitcoin, reported a net loss of $249.7 million for the fourth quarter of 2022 compared to a loss of $90 million in the same...
Federal Reserve raises interest rates by 25 basis points, as expected
The U.S. Federal Reserve raised the target range for the federal funds rate by 25 basis points to 4.5-4.75 percent, bringing the interest rate to a 15-year high. Wednesday’s interest rate decisi...
CME’s crypto derivatives reach new highs as traders seek safe port in storm
Derivatives trading giant CME Group has clocked a record high in volume and open interest for bitcoin options as traders flock to the venue in the wake of the FTX meltdown. Bitcoin options volum...
Highlights from the court report detailing Celsius’ Ponzi-like downfall
Celsius Networks used to promise customers ”financial freedom” with a ”community first” company that sold products safer than a bank. ”We are Celsius. We dream big,”...
MicroStrategy expected to report profit despite down quarter for crypto: Preview
MicroStrategy reports fourth quarter results Thursday with the company expected to turn a profit after several down quarters even as revenue comes in slightly lower than a year earlier. The sof...
Crypto prices flat, while Dogecoin rallies
Crypto prices remained mostly flat after the market opened on Tuesday, with Dogecoin rising significantly by 8.1%, outperforming the top 10 coins. Bitcoin fell 0.3% to $23,117 around 9:50 a.m. E...
Osprey Funds sues competitor Grayscale over bitcoin trust advertising
Osprey Funds, which provides asset management services, accused Grayscale Investments of “unfair and deceptive acts and unfair competition.” Osprey said Grayscale’s advertisements were mis...