Financial analysis

Image Source: Silvergate  MicroStrategy has denied any meaningful exposure to Silvergate as crypto firms who dealt with the crypto bank are rushing for the exits amid concerns about its financial condition.  In a recent tweet, business intelligence firm MicroStrategy clarified that their Bitcoin holdings, valued at $2.9 billion and comprising over 130,000 Bitcoin, are not...

Tether coin. Source: Adobe Amid struggles to maintain access to the global banking system, the companies behind Singapore-based USDT stablecoin issuer Tether used a mixture of fraudulent documents, obscured identities and shell companies, according to a new bombshell report by the Wall Street Journal. USDT’s value is pegged to the US dollar and backed 1:1...

Image source: Yahoo Finance Crypto-friendly bank Silvergate has been forced to return $9.85 million to BlockFi as part of the crypto lender’s ongoing bankruptcy proceedings. According to documents made available on the website of BlockFi’s restructuring advisor, the bankruptcy court overseeing BlockFi’s restructuring process ordered Silvergate to immediately release $9.85 million to the now-defunct crypto lender...

Silvergate. Source: Adobe Crypto-friendly US-based bank Silvergate Bank has begun the voluntary process of liquidation, according to a statement issued by the California Department of Financial Protection and Innovation (DFPI).  The announcement of Silvergate Bank’s liquidation comes just a day after reports surfaced suggesting that the bank was discussing ways to avoid a shutdown with...

Image Source: News24 Global banking giant HSBC has acquired the UK subsidiary of now-collapsed lender Silicon Valley Bank for £1 ($1.21) after all-night talks between the government, regulators, and other prospective buyers. The deal excludes the assets and liabilities of SVB UK’s parent company.  As of March 10, the UK arm of SVB had loans...

Image Source: BBC Consumer-focused UK bank NatWest is putting a limit on the amount of money customers can transfer to cryptocurrency exchanges in a move that shows deteriorating relationships between digital asset firms and financial institutions.  Users of the bank will be limited to payments of 1,000 British pounds ($1,218) per day and 5,000 British...

Jerome Powell addresses inflation and labor market concerns, outlining the Federal Reserve’s cautious approach to future monetary policies. Image by tanarch, Adobe Stock Today, Federal Reserve Chair Jerome Powell addressed critical economic issues facing the United States in a talk at the Economic Club of New York.  During the speech, Powell discussed the state of...

PetroChina completes the first international crude oil trade using China’s Digital Yuan, marking a watershed moment in the integration of CBDCs into global commerce. Image by RareStock, Adobe Stock PetroChina inked a major deal on October 18, becoming the first company to complete an international crude oil trade using China’s central bank digital currency (CBDC),...

Grayscale and FTSE Russell unveil an index that categorizes crypto assets into distinct sectors. Image by 24K-Production, Adobe Stock Today, Grayscale Investments announced a partnership with the UK-based global index provider FTSE Russell to introduce the FTSE Grayscale Crypto Sector Index Series.  The index hopes to bring clarity to the fast-growing, yet often misunderstood crypto...

BlackRock’s SEC fine raises questions about its suitability for managing a Bitcoin ETF. Image by Sergei Tokmakov, Pixabay. According to a Tuesday release from the U.S. Securities and Exchange Commission (SEC), BlackRock Advisors LLC has agreed to a $2.5 million penalty for failing to accurately describe investments in the entertainment industry. The development is of...