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Liquidity scare: Silvergate sells assets at a loss, lays off 40% of staff | Curated CoinCodeCap #6…

While Bitcoin paves the path for crypto mass adoption, Ethereum becomes the sword of Keyboard warriors. Here’s what happened to the market yesterday:

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Due to a bank run caused by FTX‘s failure, Silvergate was forced to sell assets at a significant loss to repay withdrawals of almost $8.1 billion. Additionally, the bank fired 200 employees or 40% of its workforce.

The bank reported in a statement that the fourth-quarter decline in crypto-related deposits was 68%. Silvergate sold off its debt to pay for the withdrawals. More money was lost on the transaction by the bank — roughly $718 million — than it had made since 2013. Keep Reading »

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Due to a data breach that occurred in August 2022, a class-action lawsuit has been brought against the password management service LastPass.

On January 3, a plaintiff, solely known as “John Doe,” filed the class action with the United States District Court for the District of Massachusetts on behalf of every other person involved in a situation that is comparable to theirs. It asserts that LastPass suffered a data breach that resulted in the loss of Bitcoin worth roughly $53,000. Keep Reading »

Cryptocurrency exchange Huobi has announced a layoff of 20% of its staff. “With the present status of the bear market, an extremely lean group will keep up with proceedings. The staff streamlining intends to execute the brand procedure, upgrade the construction, further develop effectiveness and return to the main three,” Huobi said.

Huobi spokesperson further rubbished rumors of the exchange firing as many as 40% of employees. This latest development comes after Huobi adviser Justin Sun dismissed rumors of purported insolvency, stating the business development of the exchange was “good”, and the “security of users’ assets will always remain fully protected.” Keep Reading »

The National Cyber Crime Section (NCCU), a cyber-focused command of the National Crime Agency (NCA) in the United Kingdom, is prepared to introduce a special crypto unit tasked with preemptively looking into cybercrime incidents in the U.K. including the use of cryptocurrencies. This action aims to focus more on crypto crimes and deter illicit activity.

Director of NCA infrastructure investigations Chris Lewis-Evans stated that the chance involved “working in a team at the forefront of defending the U.K. from cyber crime” and that it was “very exciting“. Keep Reading »

Starting on Sunday, the United Kingdom will impose a tax exemption on overseas investors who buy cryptocurrency through regional investment managers or brokers.

Prime Minister Rishi Sunak’s intentions to make the U.K. a center for cryptocurrency reflect the tax exemption, which was revealed in December. Keep Reading »

We saw the highest of Number of Sales on 19th December which was 16.2K. And the Lowest of number of sales was recorded on 18th December which was 11.4K. This Metric showed an overall Increase.

MATIC Price Analysis January 2023

MATIC is a token of the platform Polygon. Its current price is around $0.8084 at the time of writing, with a low of $0.3228, and it has a market cap of 7 billion dollars. In addition, Polygon, a company that specializes in accelerator programs and investment, has announced the launch of its newest initiative called “Orbeon Protocol,” which will be set up to increase its following after a surge of 805%. Keep Reading »

SOL Price Analysis January 2023

SOL is a token of the platform Solana. Its current price is around $13.36 at the time of writing, with a low of $8.14, and it has a market cap of 4 billion dollars. Keep Reading »

GAL Price Analysis December 2022

GAL is a token of the platform Galxe. Its current price is around $1.02 at the time of writing, with a low of $0.996, and it has a market cap of 55 million dollars. Keep Reading »

REQ Price Analysis January 2023

REQ is a token of platform Request. Its current price is around $0.08851 at the time of writing, with a low of $0.06906, and it has a market cap of 85 million dollars. Keep Reading »

Top 5 Crypto to Buy after FTX Crash: TRX, MATIC, IMPT, APE, and ADA

FTX filed for Chapter 11 bankruptcy on November 11, and its implosion created a ripple effect across the crypto industry. The crash of FTX has had a major impact on the crypto market and exchanges that use it. Keep Reading »

Top 3 Crypto to Buy In December 2022: BNB, MATIC, and XRP

This article predicts the top 3 cryptocurrencies with the best value in December 2022. To predict the potential of these cryptocurrencies, we need to look at their current performance and what they are doing to ensure their future success. Keep Reading »

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