After closing in March, Silvergate Capital, a cryptocurrency-friendly bank that served industry giants like Coinbase and Gemini, is continuing to wind down. On Thursday, the company announced it would be laying off 230 workers, leaving only a core group of 80 to oversee the liquidation. A rough year for Silvergate
At the City Week 2023 event on April 25, 2023, the Executive Director of Markets, and Executive Director of International, Sarah Pritchard delivered a speech on the regulation of Digital Assets in the UK. The United Kingdom (UK) is one of the top-ranking countries for crypto adoption. The rise in
On April 6, the first-ever illicit finance risk assessment report of the year 2023 released by the U.S. Treasury Department. Furthermore, this demonstrates the focus on decentralized finance (DeFi) and money laundering services eliciting risk assessment. Meanwhile, the decentralized market intimidates the nation’s security. DeFi Ensures Financial Safety The reports
On Tuesday, United States Federal Deposit Insurance Corporation (U.S. FDIC) reported that the account holders of Signature Bank have to close and transfer their funds within the 5th of April 2023. FDIC declares, all the deposit accounts will get transferred to Flagstar Bank. Are Signature Bank’s Crypto Clients Safe? All
A luxury brand company Hermès International won its legal battle against the digital artist behind “MetaBirkin” nonfungible tokens (NFT). Hermès convinced Manhattan federal jury that Mason Rothschild’s sale of the NFTs violated its rights to the “Birkin” trademark. The artist Mason Rothschild sold his MetaBirkins for up to $45,100 each.
South Korea’s second-largest city Busan will launch the first decentralized digital commodity exchange in the world, where all goods will be tokenized and traded using blockchain technology. The announcement came as its earlier plan to pursue a city-backed cryptocurrency trading platform. However, according to a press release from the Busan
TP ICAP, the world’s largest interdealer-broker, has licensed as a digital asset provider with the UK’s Financial Services Authority in an attempt to enter into the crypto world through its Fusion Digital Assets platform. The company, a giant in the spot market for traditional finance (TradFi), is partnering alongside custodian
Banking Institutions have already entered the digital asset market in Australia. CBA was the first bank in the nation to introduce crypto services through its mobile banking app last year. According to Henrik Andersson, CIO of cryptocurrency asset management Apollo Capital, institutions may soon flip on their cautious approach to
D2A2’s main goal is to boost transparency through data and market intelligence. The organization will give digital asset businesses a space to unify their voices. Dubai Chamber of Digital Economy has announced the formation of the Dubai Digital Assets Business Group (D2A2), which aims to strengthen the role of the
