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In November, Block.one and its CEO, Brendan Blumer, bought a 9.27% stake in Silvergate Capital (SI), upping that to 9.9% in December, according to Bloomberg, making them one of the bank’s biggest stockholders. On Wednesday, the Cayman Islands-based company said it had exited its stake in the bank. Original Source
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“Discouraging banks from providing deposit accounts only exacerbates this problem by creating fewer options for any one sector to obtain banking services. The problem is not about crypto, but concentration risks,” Shelia Warren, the council’s CEO, said in a statement. Source
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Web3 has its share of high-profile influencers who have opened the door to consumer and business interest in the industry. While this creates a tide that can help raise the profile of all companies in the space, eventually a Web3 brand will need to find a way to stand out
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A large footprint in China, which creates skepticism about data safety, and a heavy subsidy spend, means Filecoin needs more than a token rally to be sustainable. Original Source
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Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere. According to the report, which is based on data from the first half of 2022, 17 Group 1 banks reported approximately
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After a visit to El Salvador, the International Monetary Fund (IMF) suggested the country reconsider its plans to increase exposure to Bitcoin (BTC). The community responded to the IMF’s suggestion with various messages calling out the organization.From dismissing the IMF’s suggestion as a simple case of spreading fear, uncertainty and
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The European Parliament has released a report on a draft bill proposing that banks holding cryptocurrencies set aside a large amount of capital in an effort to address potential risk.In a Feb. 9 notice, European Union lawmakers said any framework applied to crypto assets should “adequately mitigate the risks of
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Whether their bravado should extend to crypto is up for debate. Walter Teng, vice president of Digital Asset Strategy at Fundstrat Global Advisors, said in a Twitter message with CryptoX, “Seems like [FOMO], boredom, degeneracy, wanting to make it back.” Source
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Three financial watchdogs in the United States have issued a warning to investors considering certain individual retirement accounts with exposure to cryptocurrencies.In a Feb. 7 notice, the United States Securities and Exchange Commission’s Office of Investor Education and Advocacy, the North American Securities Administrators Association, and Financial Industry Regulatory Authority
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