Cryptocurrency Analysis and News Portal
The six closures have combined assets under management (AUM) of less than $700,000. 21Shares has announced that it will immediately cease offering six of its crypto exchange-traded products. According to a company spokesperson, the decision follows after the firm’s realization that these particular products are in low demand. Of the six
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Barney Frank, a former member of the United States House of Representatives, has reportedly suggested that New York regulators closed the crypto-friendly Signature Bank as part of a seeming show of force.According to a March 13 CNBC report, Frank — also a board member of Signature Bank — said the
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"Signature Bank is a New York state-chartered commercial bank and is FDIC-insured, with total assets of approximately $110.36 billion and total deposits of approximately $88.59 billion as of December 31, 2022," Harris' statement said. "DFS is close contact with all regulated entities in light of market events, monitoring market trends,
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The Bank of England (BoE) has halted the operations of Silicon Valley Bank’s U.K. branch (SVB UK), stating that it has a “limited presence” in the United Kingdom (UK) and no “critical functions” supporting the financial system.BoE issued a statement on Mar. 10, declaring that SVB UK will “stop making
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Silicon Valley Bank, a major financial institution for venture-backed companies, was shut down by California’s financial watchdog on March 10 — marking the first Federal Deposit Insurance Corporation-insured bank to fail in 2023. The California Department of Financial Protection and Innovation confirmed that Silicon Valley Bank was ordered to close but
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Citing the strong deterioration in the macroeconomic data, Blockchain.com decided to shutdown BACM that served institutional players. The crypto market turmoil and liquidity issues have been impacting several crypto firms. Popular crypto startup Blockchain.com has decided to shut down its UK-based crypto asset management arm. According to the filing on Companies
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Crypto-friendly bank Silvergate has announced plans to shut down in an orderly manner and fully repay all deposits. Silvergate Capital has decided to shut down operations and liquidate its bank following effects of problematic market conditions. On Wednesday, the crypto-focused bank made the grim announcement, which also saw its stock plummet over
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While only 13% of Web3 startups include a female founder and women represent just 27% of the top Web3 startups’ workforce, these women remain as determined as ever to shape our digital future. Source
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Though the initiative by Solana Spaces was creative and path-breaking, it was short-lived. Solana Spaces, a physical retail, educational, and community space dedicated to Web3, will close its outlets by the end of the month. The company used storefronts in New York City and Miami to promote the adoption of its
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LocalBitcoins has announced that it will shut down its platform this month. The Bitcoin exchange cited the ongoing crypto winter as the reason for this move. Users will be able to withdraw their funds from the platform over the next 12 months. The platform served customers in more than 190 countries for over
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