Connect with us

Crypto

Crypto exchange Coinbase ditches embattled lender Silvergate

Published

on

Crypto exchange Coinbase ditches embattled lender Silvergate

March 2 (Reuters) – Cryptocurrency trade Coinbase International Inc (COIN.O) on Thursday minimize monetary ties with Silvergate Capital Corp (SI.N) and stated it had minimal publicity to the lender, whose newest submitting raised questions on its capability to remain in enterprise.

Coinbase stated it could companion with different monetary establishments to facilitate money transactions for shoppers who had parked funds with the trade, and that it had stopped accepting or initiating funds to or from Silvergate.

Shares of Silvergate almost halved after the announcement from Coinbase to $7.06 in early morning buying and selling. Coinbase shares had been down almost 7% at $60.12.

The crupto trade’s choice comes as Silvergate seeks to chart a course out of the liquidity disaster it was plunged into after FTX’s chapter final 12 months that spurred its prospects into withdrawing billions of {dollars} in deposits.

On Wednesday, Silvergate delayed its annual report and stated it had offered further debt securities – investments that may embrace bonds and notes – to repay money owed this 12 months and was evaluating the influence of those occasions on “its capability to proceed as a going concern.”

Advertisement

Newest Updates

View 2 extra tales

The financial institution has additionally turn out to be a goal for brief sellers. Quick curiosity for Silvergate inventory is estimated to be as a lot as 22.6 million shares, or 82% of the float, making it probably the most shorted inventory in the USA when it comes to share of float, in accordance with information from analytics agency S3 Companions.

Probably the most influential banks within the digital asset trade, Silvergate was based in 1988 and ventured into crypto in 2013.

Apart from Coinbase, Kraken can also be certainly one of its high shoppers.

Reporting by Niket Nishant in Bengaluru; enhancing by Uttaresh Venkateshwaran, Sriraj Kalluvila and Anil D’Silva

Advertisement

Our Requirements: The Thomson Reuters Belief Rules.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Crypto

Page not found – Bitcoin News

Published

on

Page not found – Bitcoin News


Ooops… Error 404


Sorry, but the page you are looking for doesn’t exist.

You can go to the HOMEPAGE

OUR LATEST POSTS

TRON DAO Adds Google Cloud as a Super Representative Candidate on…

Advertisement

Ghana’s Vice President Says His Government Aims to Become the First to Be Powered by Blockchain

Ghana’s Vice President Says His Government Aims to Become the First…

Advertisement

Empowering Web3 Users: UXLINK Partners With OKX Web3 Wallet for $UXLINK…

Advertisement

How DLCs Can Enable Defi Deposits and Fulfill Bitcoin’s Promise

Advertisement
News Bytes - 5

Coinshares Reports Its Most Successful Quarter Ever in Q1

News Bytes - 5

Okx Launches in Australia With Comprehensive Crypto Services

Advertisement

Advertisement
Continue Reading

Crypto

RobotBulls Innovates Cryptocurrency Trading with AI and Blockchain Integration

Published

on

RobotBulls Innovates Cryptocurrency Trading with AI and Blockchain Integration

RobotBulls, a pioneering force in the cryptocurrency market, has unveiled its latest advancements in leveraging artificial intelligence (AI) and blockchain technology to streamline the trading process.

RobotBulls, a pioneering force in the cryptocurrency market, has unveiled its latest advancements in leveraging artificial intelligence (AI) and blockchain technology to streamline the trading process. This dual-technology approach not only simplifies trading operations but also enhances security and accuracy, providing traders from various backgrounds with an accessible and efficient trading platform.

AI and Blockchain: A Synergistic Approach for Streamlined Trading

Advertisement

At the heart of RobotBulls’ innovation is the integration of AI and blockchain technology. The platform utilizes advanced AI algorithms to analyze market data accurately and swiftly, offering users actionable insights to guide their trading decisions. Complementing this, blockchain technology ensures all transactions are securely recorded and immutable, reinforcing trust and transparency in all operations.

Key Features of RobotBulls: Elevating Trading Experience

RobotBulls’ platform is designed with several core features aimed at enhancing user experience:

  • Streamlined Trading: Automated trading tasks allow users to execute strategies efficiently without the need for constant monitoring.
  • Real-Time Analytics: The platform provides current market trend data, helping users make informed decisions and anticipate movements.
  • Robust Security Measures: Leveraging blockchain, RobotBulls ensures all transactions are transparent and secure, significantly reducing the risk of tampering.

Benefits of Using RobotBulls: Efficient and Secure Trading Traders on RobotBulls enjoy multiple advantages:

  • Time Efficiency: The automation of routine trading activities frees up time, allowing traders to focus on strategy development.
  • Increased Precision: AI-driven analysis minimizes errors in data interpretation and trade execution.
  • Enhanced Risk Control: Tools for managing trading risks, including customizable stop-loss settings, are readily available on the platform.

Continuous Innovation and Future Prospects

Committed to continuous enhancement, RobotBulls consistently upgrades its AI algorithms and explores more efficient blockchain technologies. These advancements aim to further expedite transactions and improve analytical capabilities, providing users with deeper insights and more robust trading options.

Supporting Traders with Educational Resources and Community Engagement

Advertisement

RobotBulls supports its users with an array of educational resources designed to aid both novice and experienced traders in navigating the platform effectively.

Additionally, the company fosters a strong community, enabling users to exchange strategies and insights, further enhancing their trading success.

Experience the Future of Trading with RobotBulls

For traders seeking to harness the potential of digital currencies through a secure, efficient platform, RobotBulls offers a powerful solution. To explore how RobotBulls can transform your trading experience, visit robotbulls.com.

Contact Info:
Name: Lin
Email: Send Email
Organization: Robot Bulls
Phone: +41795354362
Website: https://www.robotbulls.com/

Advertisement

Release ID: 89130078

Should any problems, inaccuracies, or doubts arise from the content contained within this press release, we kindly request that you inform us immediately by contacting error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will promptly address your concerns within 8 hours, taking necessary steps to rectify identified issues or assist with the removal process. Providing accurate and dependable information is at the core of our commitment to our readers.

Continue Reading

Crypto

Alleged crypto scammers arrested in $73 million 'pig butchering' scheme

Published

on

Alleged crypto scammers arrested in $73 million 'pig butchering' scheme

The Justice Department said on Friday that it arrested two alleged scammers for laundering “at least” $73 million through shell companies connected to “pig butchering” cryptocurrency investment schemes.

In a pig butchering scam, scammers contact victims online and gain their trust before manipulating them into investing in a fake cryptocurrency.

Daren Li, a 41-year-old dual citizen of China and St. Kitts and Nevis — and resides in China, Cambodia, and the United Arab Emirates, was arrested on April 12 at Hartsfield-Jackson Atlanta International Airport. According to a Justice Department statement, he was subsequently transported to the Central District of California. Yicheng Zhang, 38, a Chinese national and resident of Temple City, California, was arrested on Thursday in Los Angeles, California, the statement said.

The DOJ accused the individuals of having lured victims into depositing money into U.S. accounts. From there, the two allegedly utilized co-conspirators to launder the money through U.S. financial institutions to Bahamas bank accounts, before converting the funds into the stablecoin Tether, also known as USDT.

Advertisement

“Cryptocurrency investment scams exploit the borderless nature of virtual currency and online communications to defraud victims,” said U.S. Deputy Attorney General Lisa Monaco. “While fraud in the crypto markets takes on many forms and hides in many far-off places, its perpetrators aren’t beyond the law’s reach,” the

Li and Zhang face charges of conspiracy to commit money laundering and six counts of international money laundering. According to the Justice Department, if found guilty, they could be sentenced to a maximum of 20 years in prison for each count.

Two days before announcing the arrests, the Justice Department said it arrested two brothers for allegedly stealing roughly “$25 million worth of cryptocurrency within approximately 12 seconds.” And earlier this month, the department charged ‘Bitcoin Jesus’, a.k.a. Roger Ver, with evading nearly $50 million in taxes.

Continue Reading

Trending