Day: March 4, 2023

Silvergate Bank Terminates Crypto Payments Network as Shares Plunge to Record Low – Featured Bitcoin News

boss

Silvergate Bank has discontinued its cryptocurrency payments network. The decision to shut down Silvergate Exchange Network followed the withdrawal of banking relationships by several major cryptocurrency firms, including Coinbase, Gemini, Paxos, and Circle. Silvergate Discontinues Crypto Payments Network Silvergate Bank announced Friday that its cryptocurrency payments network, the Silvergate Exchange Network (SEN), has been terminated. According to a notice posted on the crypto-focused bank’s website: Effective immediately Silvergate Bank has made a risk-based decision to discontinue the Silvergate Exchange Network (SEN). All other deposit-related services remain operational. SEN is Silvergate’s…

Fears over Silvergate, $8B hole at FTX, senators seek Binance’s numbers: Hodler’s Digest, Feb. 26 – March 4

boss

Delay in Silvergate’s financials sparks fears over bankruptcy, FTX reports $8.6B deficit and Binance’s balance sheet sought by U.S. senators. Top Stories This Week Silvergate stock plunges after delayed filing raises doubts over future Silvergate made headlines this week after postponing the filing of its annual 10-K financial report, raising fears of an upcoming bankruptcy filing. The collapse of the cryptocurrency bank could prove costly for the rest of the industry. Within 24 hours after the announcement, Coinbase, Circle, Bitstamp, Galaxy Digital and Paxos confirmed that they will scale back…

Multicoin Capital’s Hedge Fund Lost 91.4% Last Year, Investor Letter Reveals

Despite the massive drawdown, Multicoin’s hedge fund remains up 1,376% net of fees from its inception through 2022. As the broader crypto market rebounded from last year’s lows, Multicoin reported that the fund gained 100.9% in January 2023, bringing the fund’s inception-to-January return to 2,866%. Original Source CapitalsFundHedgeInvestorLetterLostMulticoinRevealsYear CryptoX Portal

Apple’s Approval Process Delays Uniswap’s Mobile App Launch; Firm Launches Limited Trial Release – Defi Bitcoin News

boss

On March 3, 2023, Uniswap Labs, the firm behind the decentralized exchange Uniswap, announced the launch of a limited early-release application through Apple’s Testflight program. The company stated that the limited release was due to Apple not granting approval for the application launch, and the team does not know why. Uniswap Labs Launches Limited Early-Release Mobile App via Apple’s Testflight Platform Uniswap Labs launched a mobile application for Uniswap via Apple’s Testflight platform. The self-custodial, open-source mobile application is available for a limited release. However, the company noted that Apple…

Bybit halts USD bank transfers citing partner outages

boss

Dubai-based crypto exchange Bybit has suspended United States dollar (USD) deposits via bank transfers in response to “service outages from a partner”. Funds can be withdrawn through wire transfers until March 10.  In a blog post from March 4, the crypto firm said that “USD deposits via Wire Transfer (SWIFT) and Wire Transfer (For US bank) are no longer available.” As an alternative, users can continue to make USD deposits via the Advcash Wallet or with credit card. Notice on Suspension of USD Payments via Bank Transfer You may continue…

Gravitas: Why the Ethereum Merge matters

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Ethereum plans to make a radical technological shift. It intends to merge it blockchain with a separate one through the ‘Ethereum … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version