Global crypto market capitalization declined by over 4% in the last 24 hours. Though BTC and ETH were affected, a few metrics predicted a trend reversal. Coinbase on 2 March announced that it had frozen accepting or initiating payments to or from Silvergate. This episode happened as Silvergate, one of the most influential banks in […]
Though BTC and ETH were affected, a few metrics predicted a trend reversal.
Coinbase on 2 March announced that it had frozen accepting or initiating payments to or from Silvergate. This episode happened as Silvergate, one of the most influential banks in the digital asset industry, revealed that it would delay the filing of its annual report, igniting panic in the crypto space.In light of recent developments & out of an abundance of caution, Coinbase is no longer accepting or initiating payments to or from Silvergate.
As the news caught fire, the global crypto industry’s market capitalization registered a decline of 4% in the last 24 hours, and as per
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Coinbase cuts ties with Silvergate as bank delays annual report filingCoinbase, a leading U.S.-based crypto exchange, announced it would drop its alliance with Silvergate, a crypto-focused bank. This makes matters worse for the bank, which saw its value plunge in after-hours trading yesterday. The bank announced that it would be delaying its annual report filing in its SEC report yesterday. In a Twitter thread, Coinbase […]
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Crypto exchange Coinbase stops initiating payments to or from SilvergateThe decision comes a day after Silvergate said it had sold additional debt securities to repay debts this year and that further losses could mean the bank is ‘less than well capitalized’
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Bitcoin sees a rise in new addresses as doubts around Silvergate impact BTCThe number of new Bitcoin addresses has hit a three-month high. However, concerns over Silvergate contributed to a drop of nearly 5% in the BTC price. Price fluctuations in Bitcoin [BTC] have been driven in the past by both individual and institutional investors. Recent developments, however, indicate that one party has far more sway than […]
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