According to a U.S. Securities and Exchange Commission filing released Tuesday (Aug. 15), the chief executives of failed Silvergate Capital are leaving the company. Silvergate Capital President and Chief Executive Officer Alan J. Lane and Chief Legal Officer John M. Bonino will both depart from their positions effective Tuesday....
Deposits at U.S. banks rose last week but remain below where they were in March. The deposits rose to $17.22 trillion in the week ended June 14, up from $17.20 trillion a week earlier, the Federal Reserve reported Friday (June 23). The $17.6 billion week-over-week increase showed...
Binance used two U.S. banks to move billions of dollars around the globe, according to the Securities and Exchange Commission (SEC). The cryptocurrency exchange transferred almost $70 billion via accounts at Silvergate Bank and Signature Bank, according to a Wednesday (June 7) SEC court filing. Both banks developed a reputation as “crypto-friendly”...
Despite claims the companies are separate, cryptocurrency giant Binance reportedly controlled accounts at its American affiliate. That’s according to a Monday (June 5) report by Reuters, citing bank records that show senior executive Guangying Chen controlled five bank accounts belonging to Binance.US, including one containing...
April 17, 2023
Crypto, whether by accident or by design, is facing a banking crisis in the U.S. That’s why it is increasingly important for industry leaders to drive education around crypto’s utility across key use-cases and act like a “grown up,” Gavin Michael, CEO at publicly listed crypto company Bakkt, tells PYMNTS CEO Karen Webster. In the wake of Silicon Valley Bank’s (SVB) collapse, […]
March 08, 2023
One crypto bank is no more — and one wonders what’s next for the crypto banking business model itself. To that end, Silvergate Capital said Wednesday night (March 8) that...
January 25, 2023
Smaller banks that sought to serve once-hot sectors like cryptocurrency are now exiting those verticals. This, as long-time crypto industry partner Silvergate Bank reports steep quarterly losses tied to $8.1...
August 16, 2023
According to a U.S. Securities and Exchange Commission filing released Tuesday (Aug. 15), the chief executives of failed Silvergate Capital are leaving the company. Silvergate Capital President and Chief Executive Officer Alan J. Lane and Chief Legal Officer John M. Bonino will both depart from their positions effective Tuesday. Chief Financial Officer Antonio Martino will leave his role on […]
June 23, 2023
Deposits at U.S. banks rose last week but remain below where they were in March. The deposits rose to $17.22 trillion in the week ended June 14, up from $17.20...
June 08, 2023
Binance used two U.S. banks to move billions of dollars around the globe, according to the Securities and Exchange Commission (SEC). The cryptocurrency exchange transferred almost $70 billion via accounts at Silvergate Bank and Signature Bank,...
June 05, 2023
Despite claims the companies are separate, cryptocurrency giant Binance reportedly controlled accounts at its American affiliate. That’s according to a Monday (June 5) report by Reuters, citing bank records that...
