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The Federal Home Loan Bank of San Francisco, the bank that supplied $4.3 billion to Silvergate late last year, did not force Silvergate to repay the advances which have been rumored to be the reason why the crypto-friendly bank went into voluntary liquidation, it said. Original Source
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The depegging of USD Coin (USDC) and Dai (DAI) from the United States dollar prompted a frenzy of loan repayments over the weekend, allowing debtors to save a total of more than $100 million on their loans.Following the collapse of Silicon Valley Bank (SVB) on March 10, the USDC price dropped to
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The holding company for the crypto-friendly bank, BankProv, has revealed it’s no longer providing loans secured by cryptocurrency mining rigs after writing off $47.9 million in loans primarily secured by them throughout 2022.According to a Jan. 31 filing with the United States Securities and Exchange Commission (SEC), BankProv has already
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The crypto-friendly bank wrote off $47.9 million in loans, primarily mining rig-collateralized debt. Original Source
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Bankrupt crypto lending firm BlockFi has plans to sell off $160 million in loans backed by around 68,000 Bitcoin mining machines as part of bankruptcy proceedings, according to reports.In a Bloomberg report on Jan. 24, two people “familiar with the matter” claim that BlockFi started the process of selling off
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The new year is a fresh start for malicious actors in the crypto space and 2023 won’t likely see a slowdown in scams, exploits and hacks, according to CertiK.The blockchain security company told Cryptox its expectations for the year ahead regarding bad actors in the space, saying:“We saw a large
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By a very large margin, Tether comes off as one of the top three companies operating as a Virtual Asset Service Provider (VASP) that receives a constant attack from mainstream media per its reserve. Tether Holdings Plc, the issuer of the world’s largest stablecoin, USDT has announced plans to reduce the
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The world’s largest stablecoin issuer, Tether, has pledged to eventually stop the practice of lending out funds from its reserves, saying it is “mission critical to restore faith" in the crypto market. In a Dec. 13 post, the stablecoin issuer addressed recent mainstream media FUD (fear, uncertainty, and doubt) concerning its
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The fallout from crypto exchange FTX’s implosion continued as data showed the GBTC discount rate to bitcoin hitting a record high. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today's crypto markets. Original Source
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Bobby Moran of crypto news website the Block has announced he will be assuming the position of chief executive officer following the resignation of Mike McCaffrey, who reportedly financed the platform through loans from Alameda Research. In a Dec. 9 announcement, Moran said McCaffrey had made an executive decision to restructure
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