Tag Archives: silvergate

CoinspeakerSilvergate Bank Faces Class-Action Lawsuit Over Alleged Role in FTX Fraud In its defense, Silvergate argued that it did not have a duty of care towards FTX customers and that its actions were not a significant factor in the customers' inability to withdraw funds. Silvergate Bank Faces Class-Action Lawsuit Over Alleged Role in FTX Fraud

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Michael Saylor – the man behind software giant MicroStrategy and a major crypto bull – has paid off a $200 million+ loan obtained from the now failed crypto bank Silvergate and has purchased even more bitcoin units, thus bringing the company’s total BTC holdings to nearly $4 billion. Michael Saylor Won’t Give...

The recent price revival of bitcoin has got everyone feeling hopeful again. So much, in fact, that bitcoin is (for the umpteenth time) being labeled digital gold. The Reputation of Bitcoin Is Again Reaching a High Point The price of bitcoin recently rose beyond the $26,000 mark. The news was interesting and odd in many ways given it was happening during a time when several banks (Silvergate, Signature, Silicon Valley, etc.) were crashing and burning. In addition, these...

Three major financial closures happened over the course of two weeks in mid-March. The institutions that shut their doors were Signature Bank, Silicon Valley Bank, and Silvergate. Despite all this, crypto assets like bitcoin appear to be rallying. Bitcoin Is Doing Well Despite Bank Turmoil Many analysts are offering different thoughts on the situation, one of which is Alex Kuptsikevich, a senior market analyst at FX Pro. He mentioned in a statement: Bitcoin faces an...

Earlier today, we reported that Silvergate Bank – a tech-friendly financial institution stationed in Silicon Valley – had collapsed. The company is liquidating all its assets after being shuttered by the federal government due to a high number of monetary failures, and bitcoin suffered because of this. Silvergate Has Closed, but There’s Still Hope for Bitcoin Many are saying this is the start of the 2008 Great Recession all over again. Many think this is a continuation...

In mid-March, the world’s leading digital currency (bitcoin) fell by more than eight percent and briefly went below the $20K mark. The dip occurred after news got out that Silvergate Bank – a tech-friendly financial institution stationed in Northern California’s Silicon Valley – was being shut down by regulators for numerous failures. Bitcoin Fell Following Bad News of Silvergate Bank Many have called the shutdown of the bank one of the biggest monetary collapses since...

The trouble surrounding Silvergate is getting even bigger. So big, in fact, that the prices of many leading digital currencies – including bitcoin and Ethereum – took serious dips during the early weeks of March. Silvergate Crash Causes Crypto Assets to Sink Bitcoin, for example, fell from about $22,300 to just over $20,000 after news emerged that Silvergate was planning to shut down completely. The company said it will wind down all operations and liquidate the assets...

The trouble surrounding Silvergate Bank appears to be getting worse, and the company has attracted a lot of negative attention in recent weeks after it stated it has concerns about how well it can do in the future. Silvergate Is in Hot Water Silvergate is a crypto lender that lost billions of dollars in 2022 due to the ongoing volatility and market speculation. That year was easily the worst on record for crypto given how poorly assets did. Bitcoin, for example, lost...

All eyes are on bitcoin yet again as Jerome Powell – the man in charge of the Federal Reserve – said in a recent interview that his office is not above faster, larger rate hikes in 2023, and that they could come sooner than most people anticipate. Bitcoin Could Suffer with More Rate Hikes There is great fear of more rate hikes given they swarmed 2022, a time that was extremely bearish for bitcoin. Inflation was soaring and the economy was in dire straits thanks to the...

MicroStrategy has bought over 6,000 more Bitcoin after fully satisfying its sizable Silvergate debt obligations. MicroStrategy Incorporated (NASDAQ: MSTR) recently increased its Bitcoin (BTC) holdings following a recent Silvergate Bank (NYSE: SI) loan repayment. According to reports, the BTC-loving business intelligence firm has bought an additional 6,455 Bitcoin for $150 million. The purchase, which also translates to an average price of $23,238 per token, brings MicroStrategy’s total...