Skip to main content

The pressure on crypto bank Silvergate continues to mount

 


A fraud case involving Silvergate's FTX and Alameda trades may soon be filed. But there has yet to be an indictment.

Prosecutors from the fraud division of the US Department of Justice have reportedly already started their initial investigations, according to information from the news portal Bloomberg. We'll look at the organization's contribution to the FTX and Alameda Research case.

The measurement primarily concentrates on Silvergate accounts connected to Sam Bankman-Fried's business. Millions of dollars in client funds are allegedly missing from FTX and Alameda management.

The sudden bankruptcy of FTX had a particularly negative impact on Silvergate among the lenders. In the most recent quarter, the bank reported a $1 billion loss and let go of about 40% of its staff.

Earlier this week, a cross-partisan group of U. S. Senators demanded more information from the business regarding the bankrupt cryptocurrency exchange FTX in an open letter to the company.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FireFaucet - An earning site that pays better for some than Cointiply

Comments

Post a Comment

Popular posts from this blog

Cardano price forecast – price breaks out! Are we near $1.5 soon?

 In our last Cardano price prediction , we wrote that the price could break out soon. The reason for this was a symmetrical triangle. This triangle was performed after the crash, so we expected the price to break down. But now the course has broken out of the triangle in a bullish manner. But how far could the course rise or what is the goal? Today we will explain to you about the Cardano course ! Cardano price broke out of the triangle and was able to rally to the $1.19 resistance. We tested this resistance, and a short time later the price was sold off. The triangle's target was around $1.23, so we now believe the price has completed the target. As a result, we no longer expect a further increase. Instead, the price could now descend and possibly form new lows. If the price breaks the $1.19 resistance, the price could rally to around $1.5. There is the next resistance where the Cardano price could bounce. If Cardano price fails to break the $1.19 resistance, we would expect the p...
Post a Comment
Read more

Tesla Beats Sales Expectations - Bitcoin Holdings Remain Flat

  The car manufacturer presented its report for the fourth quarter on Wednesday evening. Tesla exceeded expectations for sales and profits. Bitcoin holdings, meanwhile, remain unchanged. Tesla (TSLA) published the Q4 report for 2021 last night. Overall, the electric car maker recorded a sales increase of 65 percent in this quarter compared to the previous year. In the automotive sector alone, sales rose to 15.97 billion US dollars. In addition, the US company set a new record profit of 5.5 billion US dollars - an increase of 665 percent over the previous year. Analysts previously expected adjusted earnings of $2.36 per Tesla share. With 2.54, the carmaker was able to significantly exceed this value - with positive effects on the TSLA course, which recorded an increase of almost 4 percent. Tesla's bitcoin holdings, meanwhile, remained unchanged. At the end of the fourth quarter, the value remained stable compared to the previous quarter at $1.26 billion. In February 2021, Elon Musk...
Post a Comment
Read more

Cardano founder doubts Bitcoin's future as world reserve currency

  Cardano's founder doesn't believe Bitcoin has what it takes to become the world's leading currency. Charles Hoskinson stated in a recent interview that he didn't think Bitcoin would become the world reserve currency. According to the founder of Cardano, a cryptocurrency with smart contract features would become the global reserve currency. Hoskinson believes Cardano or Ethereum would become the world reserve currency. A global reserve currency must offer services like smart contracts, metadata standards, and improved throughput that complete enormous transactions per second. According to the Cardano founder , the scarcity of Bitcoin is due to the high cost of production: "If you make paintings, one of which you have to paint by hand and the other by machine, and both look the same and the demand for both is the same, then the effort for one is a thousand times greater than for the other." Hoskinson spoke about Bitcoin's massive energy consumption, addin...
Post a Comment
Read more