Barry Silbert's Genesis Trading reduced headcount by 30%, or 60 jobs, as the crypto lender fends off a potential bankruptcy filing after the collapse of FTX.
Crypto is ringing in the New Year with new lawsuits and new chaos
To get a roundup of TechCrunch’s biggest and most important crytpo stories delivered to your inbox every Thursday at 12 p.m. PDT, subscribe here. Welcome back to Chain Reaction and Happy New Year! As ...
Silvergate’s ‘worst-case scenario’ fuels wider concern on crypto
Silvergate Capital made one of the U.S. banking world’s biggest bets on crypto. Now it’s reeling from a run on deposits and a massive loss, intensifying fears the collapse of FTX may seep elsewhere into the financial system.
Mark Cuban Warns of Potential New Crypto Scandal and Fraud
One aspect common to all these crypto scandals is that the big names and players in the sector get spattered by the mess. No one is immune. It all started last May when sister cryptocurrencies Luna and UST,
Factbox: From BlockFi to Genesis, crypto firms reel from exposure to FTX
After the collapse of major cryptocurrency exchange FTX, the industry has felt a ripple effect due to the exposure of many companies to FTX and its affiliated trading firm Alameda Research. FTX founder Sam Bankman-Fried on Jan.
The Unrelenting Roar of a Crypto Mine Tore This Town Apart
But over the last few months, Lynell had become enmeshed in local politics after a cryptocurrency mine set up shop in their town of Murphy, North Carolina, in September 2021. “Mine” is a misnomer, as these facilities are clusters of computing units,
France’s Villeroy Urges Obligatory Licensing for Crypto Firms
Bank of France Governor Francois Villeroy de Galhau urged tougher regulatory requirements for crypto firms, in what could be a setback for an industry seeking to secure a stronger foothold in Europe.
Earlyworks Kicks Off U.S. IPO Process
Earlyworks has filed for U.S. IPO. It is developing blockchain and distributed ledger technologies for various applications. Read more on ELWS IPO here.
Why Crypto-Linked Stock Silvergate Capital Is Crashing Today
Silvergate Capital Corp (NYSE: SI) shares are plunging Thursday morning after the company announced select preliminary fourth-quarter financial metrics and provided a business update, which includes ...
Crypto losses in 2022 dropped 51% year on year to $4B
Immunefi’s Crypto Losses 2022 report found over $3.9 billion was 'lost' last year down 51.2% from 2021, when over $8 billion was stolen.
How The History Of Bank Runs Helps Us Understand The FTX Fiasco And Other 2022 Crypto Exchange Failures
To wrap your head around last year’s wave of crypto exchange failures, it’s useful to reflect on the history of banking crises and bank runs. The history shows both how this FTX calamity happened and ...
Celsius customers lose control of the $4.2 billion they deposited in accounts at the bankrupt crypto lender
Judge Martin Glenn said he "empathizes with the frustration account holders may feel if they didn't read or understand the specific terms of use." ...
The Challenge With Crypto Mixers, Tumblers and Blenders
The mixer conundrum is that they will lose privacy-needing users if they are compliant while getting a rap on the knuckle from the powers that be if they do not comply.
Web3 ecosystem lost $3.1 billion to crypto fraud in 2022
An Immunefi report finds that $3.1 billion in crypto was lost across the Web3 ecosystem in 2022 due to hacks and scams.
Silvergate shares tumble as crypto bank reveals $8.1bn fall in deposits
Clients pulled $8.1bn in deposits from Silvergate in late 2022, forcing the crypto-focused US bank to sell assets and underscoring how the implosion of FTX has rippled into the regulated financial ...
Silvergate Stock Crashes Nearly 50% As Bank Grapples With Crypto Crisis
Silvergate was one of the first banks to work with crypto clients, branding itself as the leading financial institution in the digital asset space. The company rod ...