Silvergate suffers $1B net loss in 2022 fourth quarter
According to reports from Silvergate, deposits were $7.3 billion in the fourth quarter, which was less than the $12 billion recorded in the third quarter. A class action lawsuit against Silvergate Bank regarding its interactions with FTX and Alameda Research is now pending, and the bank just disclosed a fourth-quarter 2022 net loss of $1 […]
FTX clients demand more transparency about subsidiary sales
FTX customers claim they should be included in the sales process to guarantee their interests are reflected and have filed a limited objection to FTX’s plan to sell four independently run companies. An ad hoc committee of non-U.S. customers, consisting of 18 members, who have combined claims against FTX totaling more than $1.9 billion, submitted […]
Ripple finally gets hold of SEC Hinman document
After an 18months long battle between Ripple and the SEC, the commission has finally released the popular William Hinman document to the San Francisco-based fintech company. After “18 months and 6 court orders,” Ripple general counsel Stuart Alderoty announced on Twitter on October 21 that they had obtained the elusive Hinman documents. However, he highlighted […]
Gary Gensler: “I Want Disclosures From Crypto Issuers”
Ashley Ebersole, who used to work at the agency, said in “All About Bitcoin” that Gary Gensler says digital asset companies would report in a different way than publicly traded companies do. U.S. Gary Gensler, the head of the Securities and Exchange Commission, wants cryptocurrency issuers to disclose information. However, he knows that this could […]
The Securities and Exchange Commission’s chairman promises crypto crackdown
Gary Gensler, the head of the Securities and Exchange Commission in the United States, has predicted a crypto crackdown, he also stated that the cryptocurrency market is “like the Wild West.” According to Bloomberg, the cryptocurrency business is expanding, with a market capitalization of almost $2 trillion. This is owing to the widespread adoption of […]