03 Mar: Silvergate Crash Crypto!

By theinspired | Inspiration | 3 Mar 2023


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It's Fridaaayyy Folks! Needless to say it's not a happy Friday. Just like Texas, Bitcoin was hit with a helluva tornado called Silvergate Bank. Let's get into the news...

Trending News Topics:

  • Silvergate exodus cause Crypto Crash?(14)
  • Binance USD market cap falls(7)
  • Coinbase acquires One River Digital(5)

CRYPTO

2023 Study: Top 10 US States by Cryptocurrency Interest. 97% of payment firms believe in the power of crypto. HSBC and Nationwide place fresh restrictions on crypto purchases in UK.

BITCOIN & ETHEREUM

Bitcoin, Ether Drop Over 5% in Massive Sell-Off as Market Continues to Digest Silvergate; Bitcoin below $23K.(17) Dollar’s sharp recovery puts Bitcoin’s $25K breakout prospects at risk. Bitcoin price settles at $22.4K as daily RSI retraces 2023 bull run. UAE free zone to explore Bitcoin payments for services, lawyer says. Next FOMC Will Set The Stage For Bitcoin And Crypto For Entire Year. Bitcoin price stumbles amid investors’ aversion to risk assets, but there is a silver lining. If you plan to trade Bitcoin this weekend check this out? Bitcoin’s Price Will Moon During a Potential Oil Crisis: Arthur Hayes. Bitcoin On-Chain Activities Are Soaring Against the Regulatory Tide. Bitcoin And Ethereum Are on The Right Track, Asserts Ark Invest’s Cathie Wood.

Ethereum Price Won’t Go Down Quietly. Ethereum ERC-4337 Token Standard Deployed. Machine learning algorithm sets Ethereum price for March 31, 2023: $1,529. $17,200,000,000 in Staked Ethereum Is Now Underwater – Here’s the Price Implication After Upgrade: CryptoQuant. ConsenSys zkEVM set for public testnet to deliver secure settlements on Ethereum.(3)

Bitcoin Miner Capitulation Has Been 'Completely Different' This Cycle: CoinShares.

STABLECOINS

Binance USD market cap falls below $10B amid rising regulatory concerns.(7) Regulation and risk: Factors driving demand for a euro-backed stablecoin. Stablecoin Issuer Tether Used Bank Accounts Opened With Falsified Documents in Past: WSJ.

ALTCOINS

Crypto Community Predicts $XRP Price Will Rise in March as XRP Ledger’s Use Cases Grow. Dogecoin Price Dips 6%. Major Web3 Domain Provider Now Accepts Dogecoin (DOGE) As Payment Option. Dogecoin Hovering Right Between Key Levels of Support and Resistance, Says Crypto Analyst. Solana Pledges New Upgrades For Stability As It Looks To Start On Clean Slate. Solana Could Target A 20% Hike If It Retests This Level. Polygon Price Dropped 9% in One Day. Aave starts governance discussion to deploy on upcoming Polygon zkEVM mainnet.

EXCHANGES

Binance ‘not planning any layoffs,’ 500 roles to be filled in H1. Coinbase purchases One River Digital in move into asset management business.(5) Silvergate Bank to release nearly $9.9 million to BlockFi. Moody's sees 'significant governance deficiencies' in Silvergate. Silvergate Closes SEN Platform Institutions Used to Move Money to Crypto Exchanges.(5)

The Rise and Fall of Silvergate’s Crypto Business

LEGISLATION/REGISTRATION

U.S. Lawmakers Argue SEC Accounting Policy Undermines Safe Crypto Custody.(3) U.S. Lawmakers Reintroduce Bill to Force Crypto Miners to Disclose Emissions.(4) SEC Official Says Binance US Is Operating 'Unregistered Securities Exchange.'(2)

LEGAL ISSUES

Shouting matches, 'gripe session.' Voyager hearing devolves into chaos and spills into second day. SEC objection to Voyager-Binance.US deal questioned by US judge. CZ Reassures Binance Still Supports Voyager Deal Amid Questionable Headlines.(2) Celsius Custody customers finally begin withdrawals 263 days after freeze.(4) Ripple Will Appeal Immediately If It Loses To SEC, Chief Legal Officer Says.

ATTACKS/HACKS/SCAMS

Hackers Siphon More Than $20M From DeFi Platforms in February.

WATCH

LISTEN

Podcast of the Day: Read_705 - Bitcoin's Full Potential Valuation [Croesus] | Bitcoin Audible

Other podcast

  • Has Crypto Bottomed? David Duong, Dan Gunsberg, Mark Yusko | TWOAS
  • What the Silvergate Death Spiral Means for the Crypto Industry | The Breakdown
  • ‘Sour grape’ maximalists hate him: How Casey Rodarmor brought JPEGs to Bitcoin | The Scoop
  • Mar 2: Our Interests Are Aligned with the SEC: Brian Armstrong | gm
  • Fighting the CBDC Agenda with Bitcoin - March 2nd, 2023 | The Cafe Bitcoin Podcast
  • #399: Bitcoin Mining is Igniting an Engineering Renaissance with Rete and Isaac from Cathedra | TFTC
  • Is Decentralized Storage Similar To Mining? | Bill Schreckenstein | The Mining Pod
  • Weekly Roundup 03/03/23 (Silvergate in trouble, Oasis hacks back, Regulation by Blog Post) | On The Brink
  • ROLLUP: Silvergate Trouble | MetaMask & Unity | Robinhood Mobile Wallet | ETHDenver 2023 | Bankless Ventures

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theinspired
theinspired

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post.


Inspiration
Inspiration

I've been exposed to the world of crypto since 2011. Now I use my knowledge to curate the most relevant news articles, podcast, videos, blogs and social media information to help you be in the know in Crypto!

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