Crypto prices tumbled Thursday after Silvergate, a bank that has been at the forefront of the industry’s growth, made the decision to shut down. Bitcoin plummeted 2% to $21,570.04, according to Coin Metrics. Ether lost nearly 2% and was last trading at $1,527.58.The slight move lower began late Wednesday, a few hours after Silvergate Capital … Read more
Silvergate Bank was one of the first banks to offer services to cryptocurrency companies, and as the industry exploded in popularity in late 2017, the bank’s deposits from crypto companies skyrocketed. But as the industry crashed in late 2022, Silvergate’s core block of business crumbled, and the bank lost more than $8 billion in value. … Read more
The U.K. government recently released a consultation on regulating the industry and potential plans for a central bank digital currency. This could mean big changes for the industry, and we want to know what you think. The Prudential Regulation Authority (PRA) is planning to propose rules on issuing and holding digital assets, Vicky Saporta, executive … Read more