Crypto
Crypto
CryptoSlate Wrapped Daily: Silvergate to shut down; 3AC founders advance OPNX plans
Silvergate Capital said that its bank will wind down and undergo liquidation. Elsewhere, the founders of Three Arrows Capital discussed a business model for their new exchange, OPNX. These and other stories in today's CryptoSlate Wrapped Daily.
Bankruptcy
Silvergate Bank will halt operations and undergo liquidiation
The company did not say whether it plans to submit a bankruptcy filing.
Regulation
CFTC chair Rostin Benham deems Ethereum, stablecoins to be commodities
Rostin Benham's statements were made before senators and as an indirect response to the SEC.
Mining
Jack Dorsey’s payments company Block seeks input on mining kit
Block Inc., formerly Square, is asking users what features they want to see.
Bankruptcy
Failing bank Silvergate and FDIC are discussing recovery plans
Silvergate could seek investments from others in the crypto industry.
Legal
Voyager can sell assets to Binance.US, judge rules
Proceeds from the deal should go toward compensating former Voyager users.
ETF
CryptoSlate Wrapped Daily: Algorand MyAlgo thefts continue; Grayscale’s ETF case proceeds
Algorand has been criticized for its failure to address thefts affecting a third-party wallet. Meanwhile, Grayscale has begun to fight the SEC in court over its proposed Bitcoin spot ETF. These and other stories in today's edition of CryptoSlate Wrapped Daily.
Payments
Elon Musk has ambitions of making Twitter the world’s biggest financial institution
He did not say whether the company plans to further integrate cryptocurrency.
NFTs
Yuga Labs concludes $16M TwelveFold auction
The BAYC company auctioned its first set of Bitcoin Ordinal collectibles.
Exchanges
Coinbase’s Base will likely feature transaction monitoring, AML measures
The much-anticipated layer-2 network could include regulatory compliance.
Legal
Alameda seeks to ‘maximize recoveries’ in suing Grayscale over devalued BTC trust; alleges ‘exorbitant’ management fees
The company aims to deliver $250 million to customers through its legal case.
Exchanges
SEC lawyer says Binance.US runs unregistered exchange, Voyager tokens should be regulated
William Uptergrove made those statements during Voyager's bankruptcy proceedings.