Crypto prices soared throughout the day as the turmoil in U.S. regional banking continued and interest rate hike expectations were recalibrated. The target rate probability of no increase next ...
Tag: The Block
Binance payments partner Paysafe says UK regulatory environment is ‘too challenging’
Paysafe decided to stop offering Binance customers its embedded wallet solution in the UK in a move it blamed on complex regulation. As a result, Binance will suspend GBP deposits and withdrawals for ...
Binance to suspend GBP transactions as payments partner moves away
Binance will suspend GBP deposits and withdrawals after its payments partner Paysafe said it would no longer support them. The move will affect new users starting March 13 and all users on May 2...
Digital asset funds experience biggest weekly outflows on record
Digital asset investment products experienced outflows of $255 million last week, the largest dollar-figure outflows on record, according to asset manager CoinShares. For the fifth consecutive w...
The Block: Circle USDC operations will resume when U.S. banks open Monday: CEO Allaire
Circle USDC reserves are “safe and secure” and liquidity operations will resume when U.S. banks open Monday, CEO Jeremy Allaire said on Twitter. “We were heartened to see the U...
State regulator takes control of Signature Bank, federal regulators guarantee deposits
Policy • March 12, 2023, 7:29PM EDT The New York Department of Financial Services seized crypto-friendly Signature Bank in order “to protect depositors,” the state banking regulator said i...
Circle says $3.3 billion of USDC reserves are with Silicon Valley Bank
Circle, the crypto payments firm behind stablecoin USDC, confirmed late Friday evening that $3.3 billion of the cash backing its coin remain with Silicon Valley Bank. Circle, which had early tw...
Stablecoin issuers seek to diversify banking partners in the wake of Silicon Valley Bank’s meltdown
The failure of California-based Silicon Valley Bank today leaves the crypto market with one fewer lending partner, adding further pressure on stablecoin issuer Circle to beef up its portfolio of bank ...
Silicon Valley Bank plunges 60% before halt, Signature trading stopped shortly after open
Markets • March 10, 2023, 9:56AM EST Trading in Silicon Valley Bank is halted for pending news, but not before after shares plunged 63% in pre-market trading. Signature Bank was halted for volatility ...
New York sues KuCoin, claims ether is an unregistered security
New York Attorney General Letitia James has sued digital asset exchange KuCoin for violating New York laws governing the trading of securities and commodities, and named ether, among other tokens, as ...
Coinbase Ventures, Brevan Howard among early backers of compliant DEX Mauve
Violet, which offers compliance and identity infrastructure for decentralized finance, launched its compliance-focused decentralized exchange, Mauve. Coinbase Ventures and Brevan Howard joined t...
Grayscale’s Sonnenshein left ‘encouraged’ after hearing in SEC case
Grayscale Chief Executive Officer Michael Sonnenshein is optimistic following a hearing over the Securities and Exchange Commission’s rejection of his firm’s application for a spot bitcoin...
Bitcoin mining report: March 8
Bitcoin mining stocks tracked by The Block were mixed on Wednesday, with eight gaining and the other 10 declining. Bitcoin fell 0.3% to $21,992 by market close. Here is a look at how the individual mi...
Judge signs off on Voyager agreement to reserve $445 million after Alameda suit
A federal judge approved a stipulation between Voyager Digital and FTX, which includes an agreement that Voyager will set aside $445 million after an FTX entity sued it for loan repayments. The...
Bitcoin mining report: March 7
Bitcoin mining stocks tracked by The Block were mostly lower on Tuesday, with six gaining and the other 13 declining. Bitcoin fell 1.8% to $22,046 by market close. Here is a look at how the individual...
Grayscale products buoyed following oral arguments in case against the SEC
Grayscale had its day in court, and now the asset manager — and investors in its Grayscale Bitcoin Trust — must await the ruling, which could take three to six months. The asset manager brought...
Crypto derivatives on the CME reach new milestones amid regulatory uncertainty
Bitcoin and ether derivatives trading volumes in dollar terms continued to climb higher in February. Futures and options trading volume for bitcoin rose by about 13%, and ether’s volumes ...
Grayscale’s day in court is nearly here, but a major decision could take time
Grayscale is set to present oral arguments in its case against the U.S. Securities and Exchange Commission on Tuesday. The asset manager brought the case against the regulator for rejecting its ...
Bitcoin mining report: March 6
Bitcoin mining stocks tracked by The Block were mostly lower on Monday, with seven gaining and the other 12 declining. Bitcoin fell 0.3% to $22,418 by market close. Here is a look at how the individua...
Binance once sought to hire Gensler as an adviser: WSJ
Crypto exchange giant Binance wanted to hire Gary Gensler as an adviser years before he became head of the Securities and Exchange Commission, according to the Wall Street Journal. Gensler decli...
Silvergate short seller predicts crypto bank’s demise within a week
Marc Cohodes spent part of his Friday afternoon playing the conquering victor. The veteran short seller posted pictures of a seemingly deserted Silvergate office on Twitter, while telling The Bl...
Bitcoin mining report: March 3
Bitcoin mining stocks tracked by The Block were mixed on Friday, with nine gaining and the other 10 declining. Bitcoin fell 4.9% to $22,328 by market close. Here is a look at how the individual miners...
Bitcoin mining report: Mar. 1
Bitcoin mining stocks tracked by The Block were mostly lower on Wednesday, with six gaining and the other 13 declining. Bitcoin rose 1.6% to $23,530 by market close. Here is a look at how the individu...
Silvergate may be poorly capitalized, reevaluating strategy in light of ‘regulatory challenges’
Silvergate Capital Corporation told the U.S. Securities and Exchange Commission that it may be “less than well-capitalized” and said it was “reevaluating its business” in a filing with the agenc...
Sam Bankman-Fried’s inner circle turns on him
A third member of FTX founder Sam Bankman-Fried’s inner circle pleaded guilty to criminal charges, significantly upping the legal peril for the embattled former CEO. Former FTX Director of...
Nexo user sues crypto lender, alleging millions in asset losses
Policy • March 1, 2023, 11:06AM EST A California resident filed a complaint against crypto lender Nexo citing harm from the firm’s “fraudulent inducement” to take out loans. John Cress had a N...
UBS says Mt. Gox repayments are unlikely to destabilize bitcoin price
UBS strategists say impending Mt. Gox bankruptcy repayments might not be cause for concern for the price of bitcoin. Crypto prices have been sluggish toward the end of February. Bitcoin was trad...