Blockchain & Digital Assets

January 6, 2023 @ 3:44 pm By Omar Faridi  |  

Avalanche is one of the “most promising” L1 protocols in the general crypto ecosystem, according to an update from its community of developers and contributors. It was created in 2020 by Ava Labs and has since “become a popular choice for DeFi developers due to… Read More

January 6, 2023 @ 1:16 pm By Omar Faridi  |  

To say that 2022 was a “monumental” year for Injective is an “understatement,” the developers claim. This past year, Injective not only “focused on continuing to expand its ecosystem while strengthening the layer one chain, but it also accelerated its reach within the broader Web3… Read More

January 6, 2023 @ 9:55 am By JD Alois  |  

The drums are pounding for institutional crypto trading firm Genesis and its parent company Digital Currency Group (DGC). Genesis halted redemptions in November following “abnormal withdrawal requests which have exceeded our current liquidity.” This event has impacted the crypto trading platform Gemini as it utilized… Read More

January 6, 2023 @ 9:27 am By JD Alois  |  

Rating service Moody’s has downgraded Silvergate Capital (NYSE:SI) following the revelation that deposits rapidly declined during Q4 of 2022, and the bank had to shore up its balance sheet. Moody’s downgraded the ratings of Silvergate Capital and its bank subsidiary Silvergate Bank, following the downgrade… Read More

January 5, 2023 @ 11:55 pm By Omar Faridi  |  

Coinmotion, a Finland-based cryptocurrency service provider, has obtained confirmation from the Bank of Spain as “a valid provider of virtual currency exchange services for fiat currency and custody of electronic wallets with the registration number D741.” This means that Coinmotion “reinforces its presence in the… Read More

January 5, 2023 @ 11:17 pm By Omar Faridi  |  

Since its launch on the Hedera network, LG Art Lab has continued to support innovation and “provide accessibility to the digital art world.” With the latest upgrades, LG Art Lab further “solidifies its position as a leading curator of digital art.” Fine art lovers “can… Read More

January 5, 2023 @ 5:29 pm By JD Alois  |  

Add another casualty to the crypto contagion pile. Crypto firm Wyre is said to be shutting down, according to multiple reports. Earlier this week, Axios reported that the collapse of the deal by Bolt to acquire Wyre was the final nail in the coffin. Industry… Read More

January 5, 2023 @ 5:00 pm By JD Alois  |  

  New York Attorney General Letitia James has filed a lawsuit against the beleaguered founder and former CEO of Celsius Network, Alex Mashinsky. Celsius is in the midst of bankruptcy proceedings. Once a high-profile crypto executive, Mashinsky exited the firm this past September. According to… Read More

January 5, 2023 @ 3:02 pm By JD Alois  |  

Genesis, part of the Digital Currency Group (DCG) and previously a big crypto lender, is considering filing for Chapter 11 bankruptcy, according to a report. The institutional-focused digital asset platform revealed issues in November when it temporarily suspended redemptions. Genesis, like some other crypto firms,… Read More

January 5, 2023 @ 11:59 am By JD Alois  |  

This past week, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the US Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) issued a joint statement cautioning banks on their activities that involve digital assets (crypto). The joint statement… Read More

January 5, 2023 @ 11:01 am By JD Alois  |  

Silvergate (NYSE:SI), a west-coast regulated bank that has moved into the digital asset sector in a big way, announced that it was writing down its purchase of Diem to zero. Diem was the digital currency project launched by Facebook – META (NASDAQ:FB) that attempted to create… Read More

January 5, 2023 @ 10:45 am By JD Alois  |  

Silvergate (NYSE:SI) shares are tanking today, dropping by approximately 46% – as of this writing. Silvergate has been a crypto-friendly regulated bank accepting deposits from crypto firms where other banks feared to tread. Bankrupt crypto exchange FTX was one of Silvergate’s customers. In recent weeks,… Read More

January 5, 2023 @ 10:18 am By JD Alois  |  

Celsius Network, once a high-flying digital asset platform that promised incredible returns for its investors, is meandering its way through the bankruptcy process as the platform collapsed last year. Yesterday, the courts published an Opinion that Celsius Earn investors will not like. Last June, Celsius… Read More

January 5, 2023 @ 9:12 am By JD Alois  |  

Securrency, a Fintech/Regtech enabling the issuance of compliant digital assets, has selected a new Chief Executive Officer, according to a release. Nadine Chakar will assume the CEO role effective January 9th, 2023. Dan Doney, Securrency’s founder who has served as CEO since the company’s launch, will… Read More

January 4, 2023 @ 9:39 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against CoinDeal and its creators involving $45 million in a crypto plot. The SEC has charged Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC… Read More

January 4, 2023 @ 3:55 pm By Omar Faridi  |  

AltoIRA notes that December is a “hectic” time of year. Between buying the right gifts, making holiday party appearances, and visiting with family, you’d be forgiven if your “top concern” isn’t maximizing your IRA contributions. According to AltoIRA, end-of-year IRA contributions are “something you should… Read More

January 4, 2023 @ 3:33 pm By JD Alois  |  

Digital assets saw inflows totaling $433 million during 2022 – the lowest amount since 2018 went inflows topped $233 million. In 2021, inflows totaled $9.1 billion, significantly higher. This is according to a report distributed by Coinshares (Nasdaq Stockholm: CS)(OTCQX: CNSRF). According to the firm,… Read More

January 4, 2023 @ 3:00 pm By JD Alois  |  

Coinbase (NASDAQ:COIN) will pay $50 million to the New York Department of Financial Services (NYDFS) to settle a “compliance investigation.” Coinbase has been licensed by the regulator to conduct a virtual currency business and money-transmitting business in the State of New York since 2017. DFS… Read More

January 4, 2023 @ 8:42 am By Omar Faridi  |  

2022 has been a year “like no other—marked by market volatility for both crypto and traditional markets,” according to an update from Anchorage Digital. Anchorage Digital claims that it was “built for exactly this moment.” And within this volatility, they have “continued to grow and… Read More

January 3, 2023 @ 10:29 pm By JD Alois  |  

Earlier today, the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and the Board of Governors of the US Federal Reserve made the interesting move to jointly issue a statement cautioning banks about working with crypto firms. The joint statement… Read More