Day: March 3, 2023

MicroStrategy, Tether adds to firms distancing from Silvergate as stock dives 57%

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Business intelligence firm MicroStrategy and stablecoin issuer Tether have become the latest two firms to publicly deny any meaningful exposure to Silvergate Bank. The news comes after Silvergate announced on March 1 that it would postpone the filing of its annual 10-K financial report, which has many fearing the cryptocurrency bank may be on the brink of a bankruptcy filing. This led MicroStrategy — which holds over 130,000 Bitcoin (BTC) — to confirm that its BTC collateral is not custodied with Silvergate. The Michael Saylor-founded firm added that it will not…

$3M OKX airdrop, 1 hour due diligence on 3AC, Binance AI — Asia Express – Cointelegraph Magazine

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Our weekly roundup of news from East Asia curates the industry’s most important developments. OKX airdrop after token trading fiasco On Mar. 1, cryptocurrency exchange OKX  announced  that it would airdrop 3,014,381 Tether (USDT) to users who suffered losses as a result of the Celestial (CELT) token trading incident. On Feb. 26, Celestial revealed the development of a novel blockchain game, followed by extensive social media campaigns promoting the project’s alleged backing by OKX. Shortly afterward, the price of CELT pumped nearly 100% in two days before plummeting over 60%,…

Was Silvergate on Borrowed Time as Regulators Backed Banks Away From Crypto?

“Clearly, they’re urging extreme caution,” said Alexandra Barrage, a banking lawyer at Davis Wright Tremaine who was previously a senior official at the FDIC. She said they likely had Silvergate and similar banks in mind when they issued these warnings, which she said have shown an unusual willingness for the banking agencies to “provide some guardrails” about what they don’t want to see. Source

Blur Has Been Blowing OpenSea Out of The Water. What’s Next for the Pro NFT Marketplace?

“One of the reasons why I personally fell in love with NFTs was because they’re not commodities, they are digital collectibles,” he said, likening the experience of trading them to collecting and trading Pokémon cards. “When it comes to royalties, our position has always been ‘how can we maximize royalties in a scalable, durable way?’” Source BlowingBlurMarketplaceNFTOpenSeaProWaterWhats CryptoX Portal

Binance ‘not planning any layoffs,’ 500 roles to be filled in H1

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Cryptocurrency exchange Binance is “not planning any layoffs” and is instead trying to fill another 500 roles by the end of June, according to a Binance spokesperson. The comments came despite a huge spike in crypto layoffs in January — the majority of which were from crypto exchanges. In a statement, the Binance representative said:  “As of today, we are actively hiring for more than 500 roles with the goal of filling them by the end of H1 […] We are not planning any layoffs.” The spokesperson was responding to…

SafeMoon Blockchain | PROGRESS REPORT

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The latest updates for the SafeMoon Blockchain development as well as a teaser from Mirror Protocol. Discord … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

US Senators Probe Crypto Exchange Binance About ‘Potentially Illegal Business Practices’ – Regulation Bitcoin News

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Three U.S. senators have asked crypto exchanges Binance and Binance US for documents and answers pertaining to “potentially illegal business practices.” The lawmakers told Binance CEO Changpeng Zhao (CZ): “Your actions have called into question the legitimacy of your business and the safety of your customers’ assets.” U.S. Lawmakers Probe Binance U.S. Senators Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), and Roger Marshall (R-KS) sent a letter to Binance and Binance US on Wednesday, calling for the crypto exchanges to “provide transparency about potentially illegal business practices.” The letter, addressed…