Day: March 1, 2023

Silvergate Stock Plunges as Bank Says It May Face DOJ, Congressional and Bank Regulator Inquiries

The Silvergate filing continued: “There are or will be important factors that could cause the Company’s actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to … restrictions on the Company’s business, resulting from various litigation (including private litigation) and regulatory and other inquiries and investigations against or with respect to the Company, investigations from our banking regulators, congressional inquiries and investigations from the U.S. Department of Justice.” Source

More Than Gamers Sold a Breakthrough Web3 Game and Delivered Empty Promises

The mini-game officially launched on Nov. 7, 2022, and remained open until Jan. 2, 2023, though many in the community were disappointed with the finished product. Ben told CoinDesk the game was a “slap in the face,” and that it had many loopholes for players to cheat, rack up funds and promptly depart the community with their loot. Original Source BreakthroughDeliveredEmptyGameGamersPromisesSoldWeb3 CryptoX Portal

Crypto distribution is uneven among banks as prudential exposure rises: BIS report

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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 2.9 billion euros in crypto-asset prudential exposure and 1 billion euros in crypto assets under custody. A Group 1 bank is one that has Tier 1 capital of more than 3 billion euros and is internationally active.…

The Digital Asset Power Hour

As I looked at the answers, noting BTC and ETH’s dominance with Web3 and the metaverse way behind, I could not help but think, “Are the advisers really answering the question as it’s worded?” Bitcoin is the largest digital asset, but most interesting? I think they were subconsciously actually answering this: What part of crypto do you understand best? Humans tend not to be interested in things we don’t understand, especially when technical. (Don’t ask me to explain how my iPhone works. I am not interested.) Source

Ripple Lawyer Argues SEC Chair Gensler Has Prejudged Crypto Asset Cases – Bitcoin News

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Recently, Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), expressed his opinion in a detailed interview with New York Magazine’s Intelligencer regarding why he believes crypto assets other than bitcoin are securities. However, Stuart Alderoty, Ripple’s chief legal officer, argues that Gensler must “recuse himself from voting on any enforcement case that raises that issue.” Alderoty insists that the SEC chair “has prejudged the outcome.” Lawyer Ignites Discussion on Twitter Over SEC Chair’s Comments on Cryptocurrency and Securities The recent interview of SEC chair Gary Gensler…

Chiliz announces $50M incubator and accelerator program for early-stage blockchain projects

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Chiliz, a global company that deals with blockchain for sports and entertainment, has launched its incubator and accelerator program, Chiliz Labs, with the support of Jump Crypto. The $50 million program intends to invest in early-stage blockchain projects that leverage the Chiliz blockchain for sports and entertainment and the Socios.com partner network.  We are pleased to announce the launch of our $50M USD incubator and accelerator programme Chiliz Labs! Backed by @jump_ Chiliz Labs will foster viable and innovative early-stage blockchain projects looking to leverage the new Chiliz blockchain. ⚡️…

$264 million in bitcoin moved to Binance by unknown wallet

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A single transaction processed on Feb. 28 moved nearly $264 million worth of bitcoin (BTC) from an unknown wallet to world’s top cryptocurrency exchange Binance. The transaction in question moved 11221.055 BTC worth $263,851,890 with a fee of 3,537 satoshi (1/100,000,000 of a bitcoin) worth just $0.83. The movement comes as bitcoin trades at $23,450 after having gained 0.55% over the last 24 hours and losing 1.4% over the last 7 days. Bitcoin 7-day price chart. | Courtesy of CoinStats. In the meanwhile, on-chain data provided by Glassnode shows that…

Provenance Blockchain Foundation announces $50M in grants for blockchain development

Provenance Blockchain Foundation has announced a $50 million grant program for blockchain developers to support the development of regulated financial services on blockchain.  The grant program promise to award $50 million in HASH, which is the native token on Provenance Blockchain, to developers who build core services and experiences that enable the full digitally-native lifecycle of regulated financial assets on blockchain technology. Developers will be evaluated based on a range of factors, including their ability to contribute to asset perfection, asset origination, on/off ramps, security, compliance, wallets, identity, developer tools,…