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Silvergate Bank has been exhibiting a sense of trouble ever since the release of its earnings report for Q4 2022. The cryptocurrency bank also reported a $1 billion net loss in Q4. In one of the latest reports by the Wall Street Journal, it was revealed that two of the biggest cryptocurrency banks, Signature Bank and Silvergate , have taken loans from local home loan banks. Read more: Former Genesis Employee Reportedly Raises Millions of Dollars for a New Crypto Hedge Fund Signature Bank reportedly acquired $10 billion in the fourth quarter as a loan, and Silvergate Capital acquired $3.6 billion. “This is why I’ve been warning of the dangers of allowing crypto to become intertwined with the banking system. Under no circumstance should taxpayers be left holding the bag for collapses in the crypto industry—a market brimming with fraud, money laundering and illicit finance,” said Sen. Elizabeth Warren (D., Mass.). Binance speaks about minimum transaction limit by Silve...

JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive questioned the cryptocurrency’s supply cap, expecting a picture of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh at us all when bitcoin’s supply hits 21 million coins. JPMorgan’s CEO on Bitcoin and Its Supply Cap The CEO of global investment bank JPMorgan Chase, Jamie Dimon, reiterated his skepticism about bitcoin in an interview with CNBC Thursday. The JPMorgan executive claimed: Bitcoin itself is a hyped-up fraud. It’s a pet rock. Regarding the collapse of cryptocurrency exchange FTX, Dimon commented: “I’m not surprised at all. I call them a decentralized Ponzi scheme. The hype around this thing has been extraordinary.” Dimon also reiterated his doubt about BTC’s 21 million supply cap, suggesting that bitcoin’s pseudonymous creator Satoshi Nakamoto could remove the cryptocurrency’s supply li...

Source: OKX Crypto-exchange OKX has released its third monthly proof-of-reserves (PoR) report, confirming that all its reserves are held in bitcoin, ethereum and USDT. This also means that none are held in its native token OKB, with OKX claiming that it has the largest ‘clean’ asset reserves of any major exchange, equivalent to around $7.5 billion. Along with previous reports, OKX latest release may go some way to calming fears of further contagion in the cryptocurrency industry, with the collapse of FTX in November having a knock-on effect on other platforms. However, with DCG-owned Genesis declaring bankruptcy yesterday, it's clear that the industry hasn't weathered the storm just yet, and that it may take more than monthly PoR attestations to restore investor confidence. OKX Publishes 3rd Proof of Reserves Report, Shows it Holds None of its Native Token as Collateral According to OKX latest PoR report, its reserves are actually over-collateralized. Thi...

The year 2023 was a considerably positive beginning for Shiba Inu and the cryptocurrency market. The year began with a positive rally, with most of the cryptocurrencies trading in double digits. Shiba Inu has also been showing an increase in SHIB burns since the beginning of the year. However, it has not been consistent throughout. Even though the burn rate has skyrocketed through the roof on some days, it has also plummeted considerably. At press time, the burn rate had dropped by 0.13%, with only 15,196,289 SHIB sent to dead wallets, according to Shibburn  details. Read more: Ethereum Name Service DAO Suggests 10,000 ETH Liquidation via an Auction Source: Shibburn Even though the price was considerably on the higher side for the past few days, the burn rate didn’t live up to expectations. Shiba Inu price dropped after the recent rally As Watcher.Guru reported yesterday, the price of SHIB shot up by over 16% yesterday in anticipation of the upcoming Shibarium ...

The lawsuit alleges that Compass Mining didn’t disclose to Bit River that it was only the ‘middleman,’ not the owner of its customers’ machines. Customers are suing Compass Mining for over $2 million, alleging fraud, after the company cut ties with Russian hosting company Bit River and failed to return customers’ Bitcoin machines, citing a non-applicable United States sanction as the reason. According to a court document filed on Jan. 17, Compass Mining issued a notice in April 2022 that it has terminated its “relationships and dealings with Bit River” due to the sanctions imposed by Executive Order 14024. It is alleged that Compass “did not offer” to return or even retrieve the assets that its customers entrusted the company with to host at Bit River’s facilities in Russia. However, it was stated that it is “false” that the return of the mining machines would be in violation of Executive Order 14024, which prohibits dealings with sanctioned entities. The court document noted that Com...

Bitcoin [BTC] remains undefeated despite the advent of several new crypto currencies. However, in terms of building and use cases, Altcoins were seen outshining BTC. Ethereum, Solana , Cosmos, Polygon , and several other assets saw growth in terms of developer activity throughout the last couple of years. So much so that most of these networks have significantly more developers than Bitcoin. Electric Capital’s recent research emphasizes how monthly active Web3 developers rose by 5.4 percent throughout the last 12 months. The cryptocurrency industry welcomed 23,300 developers in 2022 despite the tragic drop in the overall market. Moving beyond Bitcoin and Ethereum, 72% of monthly active developers were from other networks. Bitcoin took a backseat while Ethereum had a notable number of developers. When compared to December 2021, Ethereum closed 2022 on a great note as its monthly active developers rose from 5,471 to 5,734. However, since its high in June 2022 of 6,860, active de...

Join Our Telegram channel to stay up to date on breaking news coverage Two months after declaring bankruptcy, FTX’s attorneys are now identifying and valuing the company’s assets to see how much money can be recovered to pay back lenders and consumers who lost billion s of dollars in the once-promising crypto currency exchange. Lawyers from the New York firm of Sullivan & Cromwell, which is also embroiled in scandal for work it performed for FTX prior to bankruptcy, said in a court document on Tuesday that they had discovered $5.5 billion in assets hidden away in customer accounts or other portions of the business. The complexity of the task involved in untangling and recovering the assets connected to FTX became more apparent as the attorneys provided additional information regarding the nature of the assets. Sam Bankman-Fried, the founder of FTX, quickly invested money in a variety of assets, from obscure cryptocurrency to stakes in hundreds of other busine...

ChatGPT , the Texas-based artificial intelligence platform shot to fame for its ability to answer questions by being precise to the point. The AI’s ability to construct a sentence by using facts has surprised silicon valley and it particularly stands apart from the rest of the applications. A ton of users are now asking ChatGPT for answers that include predicting the price of Bitcoin and other cryptocurrencies. Also Read: Why Is the Crypto Market Up Today? Bitcoin Price For 2030: Here’s What ChatGPT Answered Source: cryptoticker.io ChatGPT was asked a question about ‘What will Bitcoin’s price be in 2030?’ Surprisingly, the AI tool didn’t shoot from the leg and answered claiming that the question in itself is quite challenging. The AI claimed that it is not possible to predict Bitcoin’s price for 2030. The platform stated that even after using metrics, technical Analysis , and traditional price movements, it’s impossible to pr...

Bitcoin climbed above the $21,000 mark on Monday reaching a YTD high of $21,446 before retracing in price. BTC remained above $20,000 for three consecutive days and could catapult further in the indices. The crypto markets are displaying strength this week as Ethereum and other leading altcoins reached their monthly highs. Another leg up this week could make a handful of tokens break their resistance levels and generate better profits for investors. Also Read: When is the Best Time to Buy Bitcoin? Wall Street Analysts Explain Why Are Bitcoin & The Crypto Markets Up Today? Source: geekdommovies.com Inflation seems to be cooling down as the latest CPI figures show a fall from 7.1% to 6.5% last month. The development suggests that the Feds could suggest smaller hikes spread over subsequent months. The hawkish and aggressive interest rate hikes of 2022 might come to an end making the Feds remain dovish. FedWatch Tool has predicted that the Feds could raise 25 BPS inste...

A sponsored advertising link on Google hid malware that siphoned thousands of dollars worth of crypto and NFTs from an influencer’s wallet. An NFT influencer claims to have lost “a life-changing amount” of their net worth in nonfungible tokens (NFTs) and crypto after accidentally downloading malicious software found in a Google Ad search result. The pseudo-anonymous influencer known on Twitter as “NFT God” posted a series of tweets on Jan. 14 describing how his “entire digital livelihood” came under attack including a compromise of his crypto wallet and multiple online accounts. Last night my entire digital livelihood was violated. Every account connected to me both personally and professionally was hacked and used to hurt others. Less importantly, I lost a life changing amount of my net worth — NFT God (@NFT_GOD) January 15, 2023 NFT God, known also as “Alex” said he used Google's search engine to download OBS, an open-source video streaming software, instead of clicking on th...

Cointelegraph will be on the ground as prominent figures from the cryptocurrency and blockchain space converge on Davos during the World Economic Forum. As the World Economic Forum brings global leaders together to tackle global issues, a number of cryptocurrency and blockchain events will create a vibrant sideshow in the snowy ski destination in the Swiss Alps. Cointelegraph will be on the ground to cover the World Economic Forum (WEF) as well as a host of blockchain-focused events taking place. Key members from global governments, businesses and civil society converge on the town annually for the WEF conference, but cryptocurrency and Blockchain events are beginning to make their mark during the exclusive event. The official WEF agenda for 2023 has made provision for cryptocurrency and blockchain as talking points featuring during the week-long conference. A session titled ‘Finding the Right Balance for Crypto’ on 19 January (15:00 CET) will explore the ‘boom and bust’ in crypto ma...

Leading professional cryptocurrency trading intelligence platform Dash 2 Trade just hit a key milestone in its nascent growth. Dash 2 Trade, which is set to launch the alpha version of its platform in Q2 this year, is currently conducting beta testing of its presale analytics dashboard. According to Dash 2 Trade’s official Twitter account, the number of sign-ups testing the beta presale dashboard hit 7,000 earlier this week, a good sign that the platform will attract large numbers of users when it goes live later this year. Dash 2 Trade will offer a free and premium version of its platform, the latter of which users will be able to access via a subscription paid in Dash 2 Trade’s native crypto token D2T. What is Dash 2 Trade? Dash 2 Trade is an analytics platform tailored towards professional/highly active cryptocurrency investors. The platform hosts an array of useful Features , including trading signals, social metrics data, on-chain indicators, a presa...

Kingdom Story: Heroes Story Overview, a Web3 Collecting RPGbased on “Kingdom Story” box office hit prove by the global 5million users. Kingdom Story is an RPG game based on the Three Kingdoms and has SNS elements. Therefore, it also contains content from business simulations that manage the territory along with the growth character contents. Announcing Kingdom Story: Heroes Story Overview. With the technology combination of RPG and blockchain accumulated through seven years of service, they actively implemented the Web3 ecosystem focused on gamers while maintaining the RPG original fun of character collection-type. Build your own country to collect and grow over 300 officers, and make your dreams of unify the world! The main activities in Kingdom Story are maintained safe and transparent with blockchain technology, the value of gamers’ efforts can be recognized by making NFT and Minting. Game Setting Based on the main story of China’s the later Hans at the end of...