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Coinbase announced that it had about $240 million in corporate funds at Signature Bank, but expects a full recovery of all its funds. Several crypto firms, including Paxos, have disclosed their level of involvement with Signature Bank after the latter’s closure by the Treasury. Following an unusual week that saw multiple banks
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Stablecoin issuer says USD funds held at Signature bank now fully backstopped by Fed Source
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Silvergate Bank’s (SI) woes, including the shutdown of its crypto lending platform, SEN, aren’t necessarily moving the price of bitcoin (BTC), Hany Rashwan, CEO of cryptocurrency company 21.co, said. Rather, he attributed recent price levels to macroeconomic factors. Source
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Meta’s first foray into the world of cryptocurrencies is set to end in September with the closure of its Novi wallet pilot project.Novi’s website landing page has been revamped to inform pilot users that the platform will be decommissioned on September 1. This ends an eight-month-long pilot project that saw
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Prominent economist Peter Schiff, who is well-known in the community for his anti-crypto sentiments, had his bank shut down by Puerto Rico regulators. The revelation, however, led to Crypto Twitter pointing out the “irony” as Schiff’s prediction for Bitcoin (BTC) came true for his own traditional bank.Puerto Rico regulators closed
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