January has been a rough month for Silvergate, with the dividend halts coming just a few weeks after it announced a Q4 2022 loss of $1B and laid off 200 employees. California-based crypto bank Silvergate has suspended dividend payouts to preserve its “highly liquid balance sheet.”In a Jan. 27 announcement,...
US prosecutors seek to ban SBF from Signal after alleged witness contact
It’s alleged that the former FTX CEO attempted to arrange a “constructive relationship” with the current General Counsel of FTX US, Ryne Miller. Federal prosecutors have requested that former FTX CEO Sam Bankman-Fried's (SBF) bail conditions are modified to prevent further alleged attempts at influencing witnesses’ testimonies. Court documents filed on...
White House cryptocurrency ‘roadmap’ recommends against pension funds
The Biden administration touted its comprehensive framework and encouraged regulators and Congress to tighten the screws on crypto in a new statement. The White House released a statement on Jan. 27 that provided the United States President Joe Biden administration a roadmap for mitigating risks associated with cryptocurrencies. Much of...
Hackers takeover Azuki’s Twitter account, steal over $750K in less than 30 minutes
The majority of the funds stolen were from a single wallet which had $751,321.80 USDC drained from the malicious link. Azuki, a popular nonfungible token (NFT) project, had its Twitter account compromised on Jan. 27 leading to hackers stealing over $750,000 worth of USD Coin (USDC) by posting a malicious “wallet drainer...
California DMV to digitize car title management system via Tezos
California DMV’s chief digital officer Ajay Gupta emphasized that the agency is looking to modernize its current systems and bring greater transparency to car title transfers. The California Department of Motor Vehicles (DMV) is testing out the digitization of car titles and title transfers via a private Tezos blockchain. The...
Total crypto market cap rises above $1T, and data suggests more upside is in store
Bad news continues to dominate crypto media headlines but Bitcoin and the wider market appear to not care. Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand...
5 reasons why the Aptos (APT) rally could still have wings
Aptos’ star-studded founders and the market’s disbelief in the rally could further fuel the rise in APT price. Aptos’ APT reached a new all-time high of $20.39 after posting gains exceeding 400% since the start of 2023. While the rally could just be a pump-and-dump event due to the perception...
Fed policy to align bank oversight could limit crypto activities by state banks
The new policy would align the allowable activities for insured and uninsured state banks and OCC-supervised national banks by making rules for state banks more restrictive. The United States Federal Reserve Board announced Jan. 27 that it was issuing a policy statement on limitations on banks. The policy seeks to...
Aave deploys V3 on Ethereum after 10 months of testing on other networks
The new version includes features that developers believe will increase capital efficiency and lower gas fees The third version of crypto lending app Aave has now been deployed to Ethereum for the first time, according to a Jan. 27 tweet thread from the Aave team. “Aave V3” was originally released...
Bitcoin will hit $200K before $70K ‘bear market’ next cycle — Forecast
Stochastic patterns leave the door open for 189% BTC price gains versus the current Bitcoin all-time high, according to one analyst. Bitcoin (BTC) has “well-formed” evidence, which suggests that its next all-time high will top out at $200,000, one analyst says.In a tweet on Jan. 27, popular Twitter commentator Trader...