The collapse of crypto exchange FTX sparked a run on Silvergate Capital, forcing the bank to sell assets at a steep loss to cover some $8.1 billion in withdrawals. Crypto-related deposits plunged 68% in the fourth quarter, the bank said in an early release of some quarterly results. To satisfy Read more…
“Cryptocurrency went through a transformation in 2022,” writes CNN, noting that its peak price last year occurred on January 1 of 2022, at over $47,000: Since then, the asset — along with other cryptocurrencies — has seen a steep fall in price, remaining well below $20,000 since early November…. [Current Read more…
Demand for graphics cards significantly increased during the pandemic as some people spent more time at home playing games, whereas others tried to mine Ethereum to get some cash. But it looks like now that the world has re-opened and Ethereum mining on GPUs is dead, demand for desktop discrete Read more…
The Indian central bank’s governor said on Wednesday that it’s not at war with crypto, but asserted that cryptocurrencies have no underlying fundamentals and their usage should be prohibited. RBI Governor Shaktikanta Das told a room packed with banking executives and lawmakers that crypto has a huge inherent risk to Read more…
Karl Sebastian Greenwood, co-founder of sham “Bitcoin-killer” OneCoin, pleaded guilty in Manhattan federal court to charges of conspiring to defraud investors and to launder money. “Greenwood was arrested in Thailand in July 2018 and subsequently extradited to the US,” reports The Register. “OneCoin’s other co-founder, ‘Cryptoqueen’ Ruja Ignatova (Dr. Ruja Read more…
The world’s biggest crypto exchange, Binance, is battling to shore up confidence after a surge in customer withdrawals and a steep drop in the value of its digital token. Reuters reports: The exchange said it dealt with net outflows of around $6 billion over 72 hours last week “without breaking Read more…
More than 100 bitcoins tied to the defunct Canadian crypto exchange QuadrigaCX were transferred out of cold wallets thought to be beyond anyone’s control over the weekend, after sitting dormant for more than three years. The company’s bankruptcy trustee, Ernst and Young, did not initiate the transfers, CoinDesk has learned. Read more…