News Explorer — Silvergate Capital Reveals Layoffs With 230 Jobs Cut

Generated by AI, curated by humans

May 11, 3:28 pm

Decrypt

Silvergate Capital Reveals Layoffs With 230 Jobs Cut

Silvergate Capital announced on Thursday that it will significantly reduce its headcount, leaving only 80 employees to manage the liquidation of its crypto-friendly bank. The company has sold all of its debt securities and has funds in excess of what is needed to repay depositors. Silvergate's closure was felt throughout the digital assets industry, but was overshadowed by the following tumult among other banks.

Silvergate Capital announced on Thursday that it will significantly reduce its headcount, leaving only 80 employees to manage the liquidation of its crypto-friendly bank. The company has sold all of its debt securities and has funds in excess of what is needed to repay depositors. Silvergate's closure was felt throughout the digital assets industry, but was overshadowed by the following tumult among other banks.

Latest

Dec 10, 5:03 am

Decrypt

Solana Liquidity Drops to Bear Market Levels Amid High Leverage Risks

Solana's liquidity is in a reset phase due to realized losses, declining futures interest, and market-maker pullback, po... Read Summary

Dec 10, 1:52 am

Decrypt

American Federation of Teachers Warns Against Risks Posed by Senate's Crypto Market Structure Bill

The American Federation of Teachers has raised concerns about the Responsible Financial Innovation Act, warning it could... Read Summary

Dec 9, 10:47 pm

Decrypt

SEC Chair Atkins Suggests Certain ICOs Should Be Considered as Non-securities

SEC chair Paul Atkins stated that certain ICOs should be considered non-securities transactions, falling outside the SEC... Read Summary

Dec 9, 10:09 pm

Decrypt

New Application Filed For 'Afterdark' Bitcoin ETF Seeking to Mirror Asset's Overnight Returns

An application for a Bitcoin-focused ETF, the Nicholas Bitcoin and Treasuries AfterDark ETF, was filed with the SEC by T... Read Summary

Dec 9, 10:02 pm

Decrypt

Developers Can Now Build on Stripe's Tempo Blockchain

Tempo, a blockchain by Stripe and Paradigm, launched its public testnet, welcoming developers to build on the network. T... Read Summary

Dec 9, 9:34 pm

Decrypt

Zcash Treasury Firm Cypherpunk's Stock Jumps 40% on ZEC Founder Appointment

Zooko Wilcox, founder of Zcash, has joined Cypherpunk Technologies Inc. as a strategic advisor, leading to a surge in th... Read Summary

Dec 9, 8:28 pm

Decrypt

Crypto Winter Isn't Coming Despite Bitcoin Plunge: JPMorgan

JPMorgan analysts believe that despite recent fears and a 9% decline in Bitcoin's price, a prolonged downturn or "crypto... Read Summary

Dec 9, 7:09 pm

Decrypt

Senator Booker Says Crypto Bill Won't Gain Support Unless Democrats Are Appointed to SEC, CFTC

Sen. Cory Booker expressed concerns over the potential expansion of presidential power to fire commissioners from agenci... Read Summary

Dec 9, 6:25 pm

Decrypt

USDCx Private Stablecoin From Aleo and Circle Goes Live on Testnet

Aleo network's foundation announced the launch of a new privacy-focused stablecoin, USDCx, in partnership with Circle's... Read Summary

Dec 9, 5:56 pm

Decrypt

Ethereum 'Permit' Scams Are Gaining Steam, Leading to Massive Losses

A hacker stole over $440,000 in USDC by tricking a wallet owner into signing a malicious "permit" signature, leading to... Read Summary

Dec 9, 5:20 pm

Coindesk

Bitwise BITW ETF Gains SEC Approval With Bitcoin, Ethereum, XRP and More

Bitwise's $1.25 billion Bitwise 10 Crypto Index Fund (BITW) has been approved by the SEC to trade on NYSE Arca, becoming... Read Summary

Dec 9, 3:55 pm

Decrypt

PNC Bank Now Offers Bitcoin Trading for Customers

PNC Bank introduced a service allowing select customers to trade Bitcoin through Coinbase, part of a strategic partnersh... Read Summary

Dec 9, 3:37 pm

Decrypt

Electoral Commission Urged to Investigate £9 Million Donation to Reform UK by Crypto Billionaire

The UK's Liberal Democrats and Labour Party have requested the Electoral Commission to investigate a £9 million donation... Read Summary

Dec 9, 1:48 pm

Coindesk

Malaysia Debuts RMJDT Stablecoin Pegged to the Ringgit

The king's son in Malaysia introduced a stablecoin called RMJDT, pegged to the ringgit, for cross-border trade and forei... Read Summary

Dec 9, 1:46 pm

Decrypt

Bitcoin Giant Strategy and Ethereum Leader BitMine Bought Big This Week

Tyler Warner's daily newsletter, Morning Minute, features insights from Michael Saylor and Tom Lee's recent significant... Read Summary