Paxos
Crypto Bank Silvergate Shutdown: 3 Key Takeaways
The crypto meltdown has claimed its first big casualty in the mainstream financial system. California-based Silvergate Bank plans to "voluntarily liquidate" its assets and wind down operations. Here are three key things to know about the company’s unwinding and what it means for the crypto industry and beyond.
Silvergate Bank's Collapse Explained
Former Paxos Head of Portfolio Management and Columbia Business School Adjunct Professor Jesse Austin Campell joins “All About Bitcoin” to discuss the circumstances that caused the collapse of Silvergate Bank and what the liquidation process means for its customers. Plus, insights on how Signature Bank may be impacted by the fallout of its biggest competitor.
Crypto Stakeholders Say No Exposure to Shuttered Silvergate
Binance, Coinbase, OKX, and Paxos have all released statements regarding their exposure to Silvergate.
Binance USD Stablecoin Market Cap Falls Below $10B After Coinbase Delisting
Liquidity is deteriorating for Binance USD as crypto investors have redeemed some $7 billion of tokens from issuer Paxos since regulators ramped up pressure on the stablecoin.
Bitcoin Holds Above $23K Amid Silvergate Exodus
Bitcoin is trading at around $23,400, as the largest token by market capitalization remains relatively unfazed by a number of crypto firms, including Coinbase and Paxos, ending their relationship with crypto-focused bank Silvergate. VanEck Head of Digital Assets Research Matthew Sigel joins "All About Bitcoin" with his reaction to the latest developments and why it resembles "friction between crypto on-ramps and off-ramps."
Slew of Crypto Firms, Including Coinbase, Paxos and Galaxy, Jump Ship From Silvergate Bank
A growing group of crypto firms is ending its relationship with crypto-focused bank Silvergate, after the bank delayed its 10K filing and said there were concerns about its ability to continue as a "going concern." "The Hash" panel discusses the outlook for Silvergate and how its next moves could impact the crypto industry at large.
Coinbase CEO Armstrong: We Delisted BUSD Due to Liquidity Concerns
The exchange previously said it made the move because BUSD didn’t meet its listing standards, without going into any detail.
Binance USD Stablecoin Outflows Hit Roughly $6B Since February: Report
Approximately $6 billion of outflows has hit Binance's stablecoin, BUSD, since Feb. 13, according to CoinGecko data compiled by Reuters. "First Mover" hosts weigh in on the latest developments after stablecoin issuer Paxos said last month it will stop minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services.
Paxos Is Holding 'Constructive Discussions' With SEC
News of the talks comes a week after Paxos said it received a Wells Notice from the regulator.
