Cryptocurrency Analysis and News Portal
According to the Form ADV Filing dated May 11, 2022, the BlockTower Blue Signum SPV fund, which had about $4.6 million in gross asset value at the time of the filing, used Silvergate Bank as its sole custodian. The BlockTower DeFi SPV I fund ($74.6 million in gross assets) also
Read More
Banks are the lifeblood of a nation’s economic system, and any bank collapse is disturbing. Last week saw two failures. On March 8, Silvergate Capital — the cryptocurrency-focused banking company — entered into voluntary liquidation. On March 10, United States regulators shut down and seized the deposits of tech-oriented Silicon Valley
Read More
Last week was mainly bearish as several macro events had a detrimental effect on the industry. Major developments, such as the voluntary liquidation of Silvergate and the crash of Silicon Valley Bank (SVB), disrupted the industry, resulting in a sell-off that pushed asset prices to multi-month lows. In addition, regulatory
Read More
It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social media pointing out that Warren is “terribly misinformed.” Additionally, U.S. Regulators closed Silicon Valley Bank after reports of a bank
Read More
On Mar. 12, H.E. Justin Sun, the founding member of the TRON ecosystem and the global advisor at Huobi, a crypto exchange, posted a thread on Twitter highlighting the “potential harm” prevalent in the financial sector. He explicitly refers to current debacle in the financial markets following the collapse of Silicon Valley
Read More
Silicon Valley Bank (SVB), representing the United States information technology hub, Silicon Valley, went bankrupt due to a bank run, massive deposit withdrawals, in under 14 hours. SVB’s bankruptcy is the second-largest in history after Washington Mutual went under during the Global Financial Crisis (GFC) in 2008. Silvergate Capital, one of the
Read More
Amid the demise of Silvergate Bank and the troubles faced by Silicon Valley Bank (SVB), market analysts believe Signature Bank (SBNY) may be a buy as it’s considered the “last game in crypto-town,” according to Wells Fargo equity analyst Jared Shaw. Silvergate’s liquidation caused SBNY shares to sink on Friday,
Read More
With the Bitcoin (BTC) halving more than a year away, don’t expect crypto industry narratives to change anytime soon. Nay, crypto winter is still in full force, and the nasty headlines show no signs of abating. This week, Silvergate Bank’s parent company announced it would shut down and liquidate the crypto
Read More
$11.4 billion of USDC reserves are held in the form of cash at Reserve Banks, which include the two members of the Federal Reserve System. Source
Read More
The collapse of crypto-friendly bank Silvergate will likley have a significant impact on the crypto ecosystem and its ties with the banking sector in the U.S. Earlier this week, the parent company of Silvergate Bank announced plans to wind down operations and liquidate the bank. The announcement came after the crypto-friendly
Read More