Category News

Cryptocurrencies surged on Monday, even after regulators Sunday announced the closure of Signature Bank, the last major crypto bank in the U.S.

The outflows rose for a fifth consecutive week, according to a CoinShares report.

Customers will be limited to payments of 1,000 pounds ($1,218) per day and 5,000 pounds ($6,090) over a 30-day period.

Bitcoin jumped on Tuesday to levels not seen since last summer, extending its Monday rally as investors weighed the latest inflation data.

The Biden administration reportedly wants to apply the wash sale rule to crypto, which would end a strategy in which a trader sells and then immediately buys digital assets for tax purposes.

The U.S. President is expected to unveil his budget proposal on Thursday.

Silvergate Capital, one of the crypto market's top banks, is shutting down. The bank will repay all deposits and “is also considering how best to resolve claims and preserve the residual value of its assets," it said in a news release Wednesday.

While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators.

Crypto podcaster David Hoffman spread (and then retracted) a rumor that the SEC had delivered a Wells Notice to the decentralized staking service. A spokesperson for Lido declined to comment.

Regulators are going after crypto staking, most recently with a $30 million fine in February against a crypto exchange called Kraken.