Tag Archives: United States

Silicon Valley Bank and the crypto-friendly – Signature Bank – disclosed operational difficulties and were closed down by regulators. While some expect the collapse to prompt a domino effect, numerous cryptocurrency-related companies have already suffered losses because of their exposure to the aforementioned institutions. Let’s have a closer look. SVB’s Impact As CryptoPotato reported last week, Circle – the Boston-based company which issues the second-largest stablecoin...

The cryptocurrency market has stalled in the past few days in a rather untypical fashion, but all that can change this week as there’re multiple major events and announcements coming from the world’s largest economy. It starts with US Fed Chair’s testimony to Congress and spreads to jobless claims as well as the unemployment rate. Powell to Testify The US central bank reversed its monetary policy after the COVID-19 pandemic began to fade away and started rising the interest...

The Colorado-based bitcoin miner – Riot Blockchain – reported a total revenue of nearly $260 million for 2022, a 22% increase compared to 2021. It mined 5,554 BTC and boosted its hash rate capacity to an all-time high of 9.7 EH/s. The positive results come in spite of the devastating bear market that reigned during the bigger part of the year, and Riot’s shrunk production levels in the summer due to a heat wave.  Against All Odds Riot produced 46% more bitcoin in 2022 than in...

Brad Garlinghouse – Chief Executive Officer of Ripple – thinks the US is already lagging behind other nations in crypto because of regulatory uncertainty. He compared the technology’s potential to the Internet, highlighting America’s decision to embrace it in the 1990s, although its merits were relatively unknown at the time. The US is Now Catching up In a recent interview for Bloomberg, Garlinghouse argued that countries like Australia, Japan, Singapore, the UK, and...

The Ohio Division of Securities added its name to the $22.5 million multistate settlement against the cryptocurrency lending platform Nexo.  US regulators previously alleged the firm failed to comply with local requirements when offering Earn Interest Products (EIP). Ohio Joins the Club The watchdog of “the Buckeye State” issued a consent order against Nexo, thus joining other US states that claimed the cryptocurrency firm violated some rules when offering Earn Interest...

LedgerX – cryptocurrency derivatives exchange and a subsidiary of the collapsed giant FTX – will reportedly cease its partnership with Silvergate Bank. It urged users to receive wire transfers via the New York-based Signature Bank. Switching to Another Partner According to a Bloomberg coverage, LedgerX differentiated itself from the embattled financial institution focused on cryptocurrencies – Silvergate Bank. It advised customers to refrain from using it to receive domestic...

The cryptocurrency exchange Coinbase estimated in its latest study that every fifth American has already hopped on the cryptocurrency bandwagon.  There are more HODLers among youngsters and people of color. Crypto Can Update the Financial System Coinbase surveyed over 2,000 American adults to determine their thoughts on the current global financial network and check their sentiment on digital assets. 20% of the participants admitted owning bitcoin or alternative coins despite...

The US authorities alleged Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov – the founders of the dubious cryptocurrency investment platform Forsage – to have orchestrated a global pyramid scheme that conned investors with approximately $340 million. All defendants are charged with conspiracy to commit wire fraud and could receive a maximum penalty of 20 years in jail. Another Multi-Million Scam? A federal grand jury in the District of...

Most residents of McLouth, Kansas, reportedly criticized the potential construction of a cryptocurrency data center about a mile and a half north of the town.  Their main concerns are that the facility will harm the local environment and be very loud.  Not a Warm Welcome According to recent coverage, many residents of the small town of McLouth have frowned upon the possible construction of a cryptocurrency data processing center on top of a nearby natural gas field. Paul...

Nadeam Nahas – a 39-year-old former US state of Massachusetts employee – reportedly faces charges of placing a cryptocurrency mining operation in a remote space at a local school.  Court documents claim he stole nearly $17,500 worth of electricity to power his supercomputers. Revealing the Crime According to recent coverage, Nahas set up his crypto miner in the basement of Cohasset High School. Prosecutors insisted that he vandalized the facility and stole over $17,000 worth...