Crypto Weekly: Silvergate loses its luster
From a crypto bank in big trouble to why Bitcoin looks old-fashioned to some investors, these were the week's big stories in the world of alternative money. Silvergate Capital is the new focus of crypto jitters. The digital assets focus bank has said it may struggle to stay in business. Its shares then tumbled as much as 11% on Monday, with peers like Signature Bank sliding too. From a crypto bank in big trouble to why Bitcoin looks old-fashioned to some investors, these were the week's big stories in the world of alternative money. Silvergate Capital is the new focus of crypto jitters. The digital assets focus bank has said it may struggle to stay in business.
Its shares then tumbled as much as 11% on Monday, with peers like Signature Bank sliding too. Silvergate Capital is also halted a recent rally for Bitcoin, with the top cryptocurrency sliding around 5% for the week. Investors have polled about $6 billion out of Binance's stablecoin amid news of a crackdown on the firm by US regulators. That's according to data from CoinGecko. Watch Dogs have said the coin should be registered as a security and they could take action. Silvergate Capital is also halted a recent rally for Bitcoin, with the top cryptocurrency sliding around 5% for the week. Investors have polled about $6 billion out of Binance's stablecoin amid news of a crackdown on the firm by US regulators.
That's according to data from CoinGecko. Watch Dogs have said the coin should be registered as a security and they could take action. Investors this week claimed the company deliberately sought to evade scrutiny by regulators. There was no comment from Binance. And Bitcoin could be looking old fashioned to some crypto fans. An index from Market Vector shows other coins outpacing the big name. It features smart tokens like DOT and Solana and is up 36% this year.
Investors this week claimed the company deliberately sought to evade scrutiny by regulators. There was no comment from Binance. And Bitcoin could be looking old fashioned to some crypto fans. An index from Market Vector shows other coins outpacing the big name. It features smart tokens like DOT and Solana and is up 36% this year. Some analysts say investors think tokens linked to decentralized finance apps are now the place to find fast growth. Some analysts say investors think tokens linked to decentralized finance apps are now the place to find fast growth.
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