Crypto news

The United States Department of Justice (DOJ) has filed an appeal to review a New York judge’s decision to approve the sale of bankrupt crypto lender Voyager’s assets to the American affiliate of crypto exchange Binance in a $1 billion deal.  According to a court document, the appeal was filed Thursday evening at the United States Bankruptcy Court for the Southern District of New York through the office of the U.S. Trustee. DOJ Appeals Judge Wiles’ Approval of Voyager’s...

The embattled Silicon Valley Bank (SVB) has officially been closed down by the California Department of Financial Protection and Innovation, making for the second-largest bank failure in U.S. history.  The Federal Deposit Insurance Corporation (FDIC) has been appointed as its receiver and will ensure all insured depositors gain full access to their funds by Monday, March 13.  Per a press release from the FDIC on Friday, the FDIC has simultaneously created the Deposit...

With the recent news surrounding Kraken and the SEC, many digital currency participants believe a staking ban could be around the corner. Could Kraken Just Be the Start? Earlier today, Live Bitcoin News put out an article talking about how popular digital currency exchange Kraken had settled with the SEC and agreed to shut down its staking program as part of the settlement. The company will also part with more than $30 million in penalty fees. A spokesperson for Kraken...

The past seven days turned into a bloodbath across the entire cryptocurrency market, which dropped below $1 trillion in terms of total capitalization. This happens for the first time since January 14th. The decline comes on the back of a lot of negative macroeconomic developments, so let’s unpack. First things first, Bitcoin’s price is trading around $20,000, albeit slightly below it at the time of this writing. The intraday low sits at $19,549 on Binance and BTC is down...

Silicon Valley Bank (SIVB) is reportedly seeking external acquisition after its efforts to raise over $2 billion in capital have failed. Shares in the bank were down 62% in pre-market trading on Friday, for which trading has now been halted. According to CNBC’s David Faber, Silicon Valley Bank has “hired advisors to seek a sale,” a result which is “not unexpected.” The bank’s stock plummeted 60% on Thursday after it announced a planned total raise worth $2.25 to “strengthen...

This week, we take a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Polygon. Ethereum (ETH) The overall market has turned red, and ETH’s price has lost 15% in the past week. With support broken to the downside, Ethereum is struggling to find its footing and could go to $1,300, where the next key support is found. The news that Ethereum could be considered a security is another blow that may intensify the current bearish momentum. As the pressure is building up,...

Christopher Waller is the Federal Reserve board governor. In a recent interview, he made it clear he’s not a fan of the digital currency space, nor does he think crypto assets have any real value to them. Christopher Waller Is Concerned About Crypto In the discussion, Waller said that most digital currencies were “speculative” and comparable to baseball cards. He also said that the only value they have stems from the belief of others. He stated: If you buy crypto assets...

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It’s safe to say that Bitcoin’s price has seen better days. The cryptocurrency fell below $20,000, reaching an intraday low at around $19,791 (on Binance) and charting a decline of around 8% in the past 24 hours alone. Source: TradingViewThat said, the move didn’t come without its catalysts, so let’s have a look at five potential reasons why it happened. Silvergate Bank On March 2nd, Silvergate Bank – a financial institution that used to serve a myriad of crypto heavyweights...