• Belarus has extended its tax exemptions for crypto-related businesses and individuals until 2025.
• The exempted taxes include value added tax, income tax and personal taxes.
• Belarus is one of many countries looking to incentivize more crypto-related investments.
Tax Exemptions for Crypto Businesses in Belarus
Belarus recently signed a decree that allows crypto miners and developers to operate tax-free within the country until 2025. Exempted taxes include personal tax, value-added tax and income tax, as well as those related to exchange of coins and tokens for the Belarusian ruble or foreign currencies. This move provides incentives for crypto firms including through making initial coin offerings (ICO) legal, as part of their High-Tech Park established in 2017.
Countries that Offer Tax Incentives for Crypto Investments
Belarus is not alone in offering incentives to crypto firms with its latest move – other countries such as Singapore, the UAE, Switzerland and Germany have also become increasingly favourable environments when it comes to taxation of cryptocurrencies. Such countries offer relief on the 40% taxes typically levied on cryptocurrency investments.
15 Countries with Crypto Tax Exemption
The 15 countries exempting their citizens from paying cryptocurrency taxes are: Belarus, Bermuda, British Virgin Islands, Cayman Islands, El Salvador, Georgia, Germany, Hong Kong Malaysia Malta Puerto Rico Singapore Slovenia Switzerland U.A.E..
Previous Decree Replaced by Latest Presidential Order
The new order replaces the previous one which required crypto businesses and people working in the industry to pay applicable taxes up until 2023. Henceforth these entities will be able to enjoy a much longer period of relief from taxation on their operations till 2025 at least – an incentive provided by the government to encourage more investment in this sector within its economy.
In conclusion it can be seen that various governments are taking steps towards providing better regulatory frameworks for cryptocurrencies – especially when it comes to taxation regulations – in order to attract more investors into this sector and stimulate economic growth within their respective economies.
Many people are looking for ways to make money with cryptocurrency, which has become a popular trend. Bitcoin Circuit is one trading platform that has gained a lot of attention recently. This Bitcoin Circuit review will give you a complete overview of the platform, and answer the question „Is it a scam?“
What is Bitcoin Circuit?
Bitcoin Circuit is an automated trading platform that allows users to trade cryptocurrencies like Bitcoin, Ethereum, Litecoin and many more. Advanced algorithms are used to analyze market data and execute trades for the user. Bitcoin Circuit boasts a 99.4% success rate and users can earn as much as $1,300 daily.
What is Bitcoin Circuit?
Bitcoin Circuit employs advanced algorithms to analyze market data and make trades based upon the user’s preferences. According to the platform, 99.4% of trades are successful. Bitcoin Circuit is fully automated. This means that the platform does not require any trading experience.
Benefits of Bitcoin Circuit
Automated trading: Bitcoin Circuit does not require any previous trading experience.
High success rate: Bitcoin Circuit claims to boast a success rate 99.4%. This means that most trades are profitable.
It’s easy to use: Bitcoin Circuit features a user-friendly interface that makes it simple for users to navigate the platform.
Bitcoin Circuit allows users to withdraw funds fast.
Is Bitcoin Circuit a Scam?
Bitcoin Circuit has been the subject of several fraud allegations, raising questions about its legitimacy. After conducting extensive research, however, we are able to confirm that Bitcoin Circuit truly is a legitimate platform.
Explanation of the Bitcoin Circuit Scam Allegations
Scam allegations against Bitcoin Circuit mostly stem from false claims made by individuals. Some claim the platform is a scheme to get rich quick, but this is false. Bitcoin Circuit is an automated trading platform which uses advanced algorithms to analyze market data, and execute trades.
The legitimacy of Bitcoin Circuit
Bitcoin Circuit is a legal platform that has been verified and tested by experts in cryptocurrency. It has a high success ratio, meaning that most trades are profitable. Bitcoin Circuit has a user-friendly interface that makes it easy to navigate.
Verification of Bitcoin Circuit’s authenticity
Bitcoin Circuit was reviewed by experts in cryptocurrency and verified to be a legitimate platform. It has been featured in reputable media outlets which speaks volumes about its authenticity.
How to Use Bitcoin Circuit
These are the three steps to use Bitcoin Circuit
It is easy to register on Bitcoin Circuit. The registration process on Bitcoin Circuit is simple. Users must provide their name, email address, phone number, and password. After the account has been verified, users will be able to access the platform.
Funding for accounts
Users must fund their account in order to trade on Bitcoin Circuit. Users can deposit funds with a debit card or credit card, but a minimum of $250 is required.
Bitcoin Circuit: Trading Process
After the account has been funded, users are able to trade on Bitcoin Circuit. You can customize your trading preferences. These include the amount you want to invest per trade and the assets that you wish to trade. Bitcoin Circuit will execute trades according to the user’s preferences.
Bitcoin Circuit Features
Bitcoin Circuit is distinguished from other trading platforms by a number of features. These features include:
Bitcoin Circuit Trading App
Bitcoin Circuit offers a mobile trading platform that allows users to trade while on the move. This app is available on both iOS and Android devices.
Bitcoin Circuit security measures
Bitcoin Circuit employs advanced security measures such as SSL encryption, two-factor authentication and two-factor authentication to protect data and funds.
Support for Bitcoin Circuit customers
Bitcoin Circuit offers a 24/7 customer support team to help users with any problems they might have.
Bitcoin Circuit’s User Interface
Bitcoin Circuit’s interface is easy to use. It is also available in several languages which allows users to access it from all parts of the globe.
Bitcoin Circuit received positive feedback from users. The platform’s simplicity and high success rate are highly praised by most users. These are testimonials from Bitcoin Circuit users.
I was skeptical at first but Bitcoin Circuit exceeded my expectations. In just a few short weeks, I have made a substantial profit! – John, 32
I love how simple it is to use Bitcoin Circuit. It does all the work and I can sleep while making money! – Sarah, 25
The pros and cons of the Bitcoin Circuit
These are the advantages and disadvantages to using Bitcoin Circuit.
Benefits of Bitcoin Circuit
High success rate
It is simple to use
Bitcoin Circuit’s Disadvantages
There are limited payment options
No demo account
Comparative analysis with other trading platforms
Bitcoin Circuit is a trading platform that has a high success rate and a user-friendly interface.
Bitcoin Circuit and Media
Bitcoin Circuit is a well-known media brand and has been featured in many reputable media outlets including Forbes, CNN, and Financial Times.
Bitcoin Circuit on Social Media
Bitcoin Circuit is active on social media and engages regularly with its users. There are pages for the platform on Facebook, Twitter and Instagram.
Review of Bitcoin Circuit on Media platforms
Bitcoin Circuit has been praised by many media outlets, including Forbes and CNN. Its high success rate and user-friendly interface have been highly praised.
Bitcoin Circuit’s Media Presence
Bitcoin Circuit is a well-known media brand and has been featured in many reputable media outlets including Forbes, CNN, and Financial Times.
After extensive research, we are able to confirm that Bitcoin Circuit can be trusted. It has a high success rate and is very easy to use. Bitcoin Circuit has received positive reviews from several media outlets and has a strong media presence. Anyone looking to make money with cryptocurrency can recommend Bitcoin Circuit.
FAQs that are semantically similar
Bitcoin Circuit is a reliable platform?
Bitcoin Circuit has been confirmed as a valid platform by experts in cryptocurrency. It has a high success rate and is simple to use.
Are you a trader?
Bitcoin Circuit does not require trading experience. The platform uses advanced algorithms that analyze market data to execute trades for the user.
Is Bitcoin Circuit safe?
Bitcoin Circuit is safe. To protect funds and data, the platform employs advanced security measures such as SSL encryption.
What is the maximum profit I can make from Bitcoin Circuit?
Bitcoin Circuit claims its users can make up to $1,300 per hour. The actual profit is dependent on many factors such as how much you invest per trade and market conditions.
Is there any hidden cost to Bitcoin Circuit?
Bitcoin Circuit does not charge hidden fees. Only profitable trades are subject to a commission.
Bitcoin Circuit allows me to withdraw funds at any time.
Bitcoin Circuit allows users to withdraw funds at any time. Users can withdraw funds fast through the platform.
What is the speed of withdrawals on Bitcoin Circuit
Bitcoin Circuit’s withdrawal process is quick. Within 24 hours of submitting a withdrawal request, users can expect to receive funds.
What is the minimum amount you can deposit on Bitcoin Circuit?
Bitcoin Circuit requires a minimum of $250 to deposit.
Can I use Bitcoin Circuit on my mobile device?
Bitcoin Circuit offers a mobile trading platform that allows users to trade while on the move. It is available on both iOS and Android devices.
Is Bitcoin Circuit available in my country?
Bitcoin Circuit is accessible in all countries. Before signing up, however, you should verify that the platform is available in your area.
Bitcoin Secret claims it is a cryptocurrency trading platform that offers a reliable and efficient method to trade cryptocurrencies. Many people are skeptical about the platform as many scam platforms promise quick profits, but leave users with nothing. We will be providing a detailed review of Bitcoin Secret in order to determine if it is legitimate or a scam.
What is the Bitcoin Secret?
Bitcoin Secret is a cryptocurrency trading platform which allows users to trade a variety of cryptocurrencies including Bitcoin, Ethereum and Litecoin. It uses sophisticated algorithms and trading tools that analyze market data to make profitable trades for users. Many users have reported significant profits and a high success rate.
Bitcoin Secret is much easier to use than other cryptocurrency trading platforms. The interface of the platform is easy to use, and the trading tools and information are easily accessible. Bitcoin Secret also offers security features that ensure users‘ funds are safe and protect their personal information.
Bitcoin Secret: Is it Legitimate?
It can be difficult to determine whether a cryptocurrency trading platform is legitimate. There are scam platforms that promise quick profits, but leave users with nothing. There are many factors that you should consider when evaluating a trading platform’s legitimacy.
Bitcoin Secret appears to be legit. Many users have praised the company for being registered and regulated. Bitcoin Secret also uses advanced security measures that protect user funds and personal data, which is a sign that the platform works.
Bitcoin Secret Features
Bitcoin Secret has many features that make it a popular choice for cryptocurrency traders. The features include an easy-to-use interface, advanced indicators and trading tools, as well as a variety of security features that protect funds and personal information.
It is easy to use and intuitively designed for novice and experienced traders. Bitcoin Secret also offers traders a variety of indicators and trading tools to help them make informed trade decisions.
Bitcoin Secret employs advanced encryption protocols and security protocols to ensure that users‘ funds are protected and their personal information is secure. Two-factor authentication is also available on the platform, which provides additional security for user accounts.
How to Use Bitcoin Secret
These are the steps to use Bitcoin Secret
Register for an account at the Bitcoin Secret website.
You can deposit funds to your account with a bank transfer or credit card.
Select the cryptocurrency that you wish to trade.
You will need to set your trading parameters. These include the amount that you wish to invest and the strategy you prefer.
Keep track of your trades, and adjust your strategy if necessary.
It is a good idea to make a small investment to get familiar with the platform’s trading tools before you start making large trades. It is important to avoid emotions and stick to your trading strategy.
Bitcoin Secret Fees
Bitcoin Secret charges a 2% commission for trades. This is comparatively low when compared to other cryptocurrency trading platforms. The platform has transparent fees and there are no hidden charges.
Bitcoin Secret Withdrawals & Deposits
You can deposit funds to your Bitcoin Secret account using a bank transfer or credit card. Withdrawals can be made within 24 hours and there is no fee for them. It is important to remember that processing times may vary depending on the bank or credit card provider.
Bitcoin Secret Customer Support
Bitcoin Secret provides customer support via live chat and email. The support team is helpful and knowledgeable, with quick responses. The platform also has a comprehensive FAQ section, which addresses many common issues and questions.
Bitcoin Secret Advantages & Disadvantages
Bitcoin Secret offers many advantages, including a user-friendly interface and advanced trading tools and indicators. There are also a variety of security features. The platform also offers fast withdrawal times and relatively low fees.
There are some disadvantages to using Bitcoin Secret. It is relatively new and hasn’t been around as long than other cryptocurrency trading platforms. There is also no mobile app, which could be a problem for some users.
We concluded that Bitcoin Secret is a legitimate cryptocurrency trading platform after conducting thorough research. It offers advanced trading tools and a variety of features that make it a popular choice for cryptocurrency traders. Bitcoin Secret’s transparent fees structure and security features provide additional peace of mind to users.
Is Bitcoin Secret a fraud?
Bitcoin Secret is a legit cryptocurrency trading platform, which offers users a reliable way to trade cryptocurrencies.
What is the Bitcoin Secret?
Bitcoin Secret employs advanced algorithms and trading software to analyze market data for profitable trades.
Is Bitcoin Secret safe?
Bitcoin Secret employs advanced encryption and security protocols in order to protect the funds and personal information of its users.
How do I withdraw my Bitcoin Secret earnings?
You can withdraw funds via bank transfer or credit cards. Withdrawals can be processed in 24 hours and there is no withdrawal fee.
What are the fees that Bitcoin Secret charges?
Bitcoin Secret charges a 2% fee for trades. The platform has no hidden fees and is open about its fee structure.
Can I use Bitcoin Secret on my mobile device?
There is currently no mobile app for Bitcoin Secret.
How do I reach Bitcoin Secret customer service?
Contact customer support via email or live chat. The platform also offers extensive FAQs.
Does Bitcoin Secret offer demo trading?
Bitcoin Secret allows users to practice trading using demo accounts. This is a great way for them to get familiar with the platform’s indicators and trading tools.
What is the time it takes to make profits with Bitcoin Secret?
The success of Bitcoin Secret depends on many factors including market conditions and individual trading strategies. Before making large trades, it is important to make a small investment.
Can I use Bitcoin Secret in my country?
Bitcoin Secret is currently available in all countries. However, it is important to verify with the platform if it is not available in your country.
• CryptoWallet, an Estonian-based crypto startup, has renewed its virtual asset provider license in order to comply with the new digital assets legislation introduced by Estonia’s Financial Investigation Unit (FIU).
• The new laws require crypto service providers to have €250,000 held in capital reserves and to be based in Estonia.
• CryptoWallet plans to launch a crypto card that will support 800 cryptocurrencies later this year.
New Cryptocurrency Legislation in Estonia
Estonia’s Financial Investigation Unit (FIU) recently introduced new regulations targeting digital currency platforms due to concerns of financial risk, fraud, and mismanagement following various crypto collapses. The new laws require that crypto service providers must have €250,000 held in capital reserves, be based locally in Estonia, implement stricter KYC and AML checks, and present viable business products and strategies.
CryptoWallet License Renewal
In order to conform with the new legislation, CryptoWallet – an Estonian-based crypto startup – has renewed its virtual asset provider license. COO Aleksander Smirmin said: “This sought-after license… is the culmination of years of hard work and dedication by the CryptoWallet team. We are fully compliant, have the required shared capital, and are launching products that will enhance our users‘ lives.“
Crypto Wallet Plans for Future
CryptoWallet plans on leveraging its license to operate in the country by launching a crypto card that will support 800 cryptocurrencies later this year. This product aims at enhancing customers’ lives while also preventing potential fraud or mismanagement associated with other cryptocurrency services providers.
Benefits of New Regulations
The new regulations are beneficial for both consumers and businesses alike. Consumers can now feel more secure when using cryptocurrency services as there is added protection from potential fraudulent activities or poor management practices due to stricter KYC/AML procedures as well as higher capital reserves requirements which ensure stability within the industry overall. Additionally, businesses who meet these requirements can benefit from providing their services within Estonia as they are able to gain recognition from being certified under these laws which hold them accountable for their actions.
Estonia’s new cryptocurrency laws provide added protection against fraud or mismanagement while also increasing stability within the industry overall; however it does require companies who wish to operate within Estonia to follow certain guidelines such as increased capital reserves requirements and local base establishment among others. Companies like CryptoWallet have already begun adapting these changes by renewing their virtual asset provider licenses; allowing them to launch products such as a crypto card supporting 800 cryptocurrencies which aim at enhancing customers’ lives while still protecting them from potential risks involved with using cryptocurrency services
• Bloxmith has launched its web3 game, Raiders Rumble, on the Flow blockchain.
• The game is available for download on Google Play Store and the Apple Store.
• Players can win $120,000 in FLOW tokens by taking part in an organised gaming competition.
Bloxmith’s Raiders Rumble Goes Live on the Flow Blockchain
Bloxmith, a player-first Web3 gaming studio, recently announced that their new game, Raiders Rumble, has launched on the Flow blockchain. This 1v1 squad battler game for mobile is now available to download from both Google Play Store and Apple Store.
What Is Raiders Rumble?
Raiders Rumble challenges players to apply fast-paced strategic decision-making in countering the moves of their opponents. There are daily rotation of tournaments modes where top 50 percent of participants can win in-game items or RUMB tokens which is the native token of the game.
No Cryptocurrency Wallet Needed
To play this game no cryptocurrency wallet or nonfungible tokens (NFTs) are required as gamers can easily access it via familiar payment methods and social logins with frictionless onboarding provided by the Flow blockchain.
Inaugural Competition & Prizes
The inaugural competition offers players a chance to win up to $120,000 worth of FLOW tokens as prizes. This competition serves as a great opportunity for mainstream users and brands to transition from Web2 to Web3 gaming easily.
Raiders Rumble by Bloxmith is an innovative mobile strategy game that bridges the gap between traditional and web3 gamers with its unique features powered by the Flow blockchain technology. With this launch comes lots of potential opportunities for gamers looking to make some quick money through competitions and tournaments while having fun at same time!
• Silvergate stock (NYSE: SI) crashed over 50% on Thursday after the company delayed filing its annual 10-K report.
• JPMorgan downgraded Silvergate stock to underweight, citing liquidity challenges and a bank-run of sorts due to short-sellers.
• Coinbase stopped payments to or from Silvergate, and Canaccord Genuity also downgraded the financial services company with a new price target of $9.00 per share.
Silvergate Stock Crash
Silvergate Capital Corp (NYSE: SI) was cut nearly in half this morning after it delayed the submission of its annual 10-K report. The crypto bank is facing an existential crisis following the FTX fiasco in early November, which has led them to reevaluate their businesses and strategies in light of current business and regulatory challenges. As a result, Silvergate Capital is now down 65% versus its year-to-date high.
Downgrades by JPMorgan & Canaccord Genuity
JPMorgan analyst Steven Alexopoulos downgraded the financial services company to „underweight“ citing continued liquidity challenges as short sellers have caused a bank run of sorts, leading to much greater deposit outflows than anticipated in Q4, which could weigh on its capital ratio. Canaccord Genuity also downgraded Silvergate stock on Thursday and trimmed their price target o $9.0 a share.
Coinbase Stops Payments
Coinbase also announced today that it had stopped payments to or from the crypto bank due to the ongoing situation at Silvergate Capital Corp.
In its latest reported quarter, Silvergate Capital had $1 billion in losses due to offloading more assets than expected over the past two months as well as decreased deposits into the account from customers wary about investing with them due to recent events.
Silvergate Capital Corp’s stock has been cut almost in half since yesterday and continues to be under pressure despite multiple downgrades by analysts and other major companies like Coinbase cutting ties with them until further notice. Investors should exercise caution when considering investing with this company until more information is revealed about their future plans and strategy for dealing with current issues they are facing with regards to liquidity challenges
• Staking is a way of earning passive income when users hold their coins in the Proof of Stake (PoS) algorithm and guarantee the functioning of the blockchain.
• RSTAKING is a decentralized staking company that provides security and privacy to its users through 24 word recovery, 50 ultra-secure domains with recovery function (-1+3), no KYC required, and stable servers.
• Lee Kohn talks about the features of staking and how to earn 25% a year in cryptocurrencies without any risk.
What is Staking?
Staking is a method of earning passive income when users hold their coins in the Proof of Stake (PoS) algorithm and guarantee the functioning of the blockchain. It works on the Proof-of-Stake algorithm with proof of ownership and helps ensure high level security for cryptocurrency networks. To set the record straight, skeptics ask: „Where does the money come from to pay holders?“ The answer is that users receive rewards when they find a new block and commission for confirming transactions.
What is RSTAKING?
RSTAKING is a decentralized staking company capable of securely storing user funds and data regardless of blockades or political factors with an aim to have citizens‘ assets under full control. Institutional investors and cryptocurrency funds choose RSTAKING due to its unique approach to security and privacy policies which include 24 words recovery, 50 ultra-secure domains with recovery functions (-1+3), no KYC required, most stable servers around the world, etc.
The Benefits Of Staking
Users get many benefits from staking including: rewards for finding new blocks, commissions for confirming transactions, higher level security for cryptocurrency networks, safety for crypto assets, no need for transfer asset to someone else as it happens with bank deposits, etc.
Lee Kohn Talks About WEB3 And Crypto
In this conversation Lee Kohn shares many details about features of staking and how to now earn 25% a year in cryptocurrencies without any risk by using WEB3 technology which includes smart contracts that are audited before release into production environment eliminating potential vulnerabilities or exploits present within codebase while also enabling trustless interactions between different parties over public networks like Ethereum or Bitcoin Network as well as providing decentralized governance solutions such as ProgPow consensus mechanism.
Staking has become an increasingly popular way to make profits in today’s digital world by allowing users not only make money but also increase overall network security while being able to enjoy all other benefits associated with it including rewards for finding new blocks & commissions for confirming transactions among others mentioned above. With Lee Kohn talking about WEB3 & Crypto it clearly shows us how powerful this technology can be if used correctly!
• Senator Elizabeth Warren is reintroducing the AML Act of 2022 to include decentralized entities like DeFi and DAOs.
• The recent hostile moves by US regulators have raised fears of a crypto crackdown.
• The bill seeks to cover the broader crypto market which current AML laws do not cover.
Senator Warren Introduces AML Bill
Senator Elizabeth Warren has announced her intention to reintroduce the Digital Asset Anti-Money Laundering Act of 2022 that she first introduced on Dec. 15, 2022. The new bill will extend coverage to decentralized entities such as decentralized finance (DeFi) protocols and decentralized organizations (DAOs).
Recent Regulatory Moves
The past few weeks have seen several regulatory actions in the US including Kraken having to pay $30 million in fines for its crypto-staking product, and the SEC accusing Paxos Trust of issuing an unregistered security, the Binance USD (BUSD). This has caused much speculation about a potential crypto crackdown by authorities in the US.
AML Requirements for DeFi & DAOs
During a Senate Banking Committee hearing called ‚Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets‘, Sen. Warren said that some members of the crypto community want „a giant loophole for DeFi written into the law so they can launder money whenever a drug lord or terrorist pays them to do so“. Because of this, she believes it is important to include decentralized entities in existing anti-money laundering policies as these currently don’t cover them.
Purpose of AML Bill
The purpose of Sen. Warren’s bill is to close this gap by ensuring that all digital assets are subject to anti-money laundering requirements in order to protect consumers from fraud and other financial crimes. It also seeks to ensure that digital asset transactions are adequately monitored and reported so that suspicious activities can be identified quickly and appropriate action taken against those involved in criminal activities involving cryptocurrencies or other digital assets.
Sen. Warren’s AML bill provides an important step towards regulating digital assets more effectively while still protecting consumers from fraud and other financial crimes related with cryptocurrencies or other digital assets transactions. It will ensure that all transactions involving digital assets are adequately monitored and reported, enabling authorities to identify suspicious activity quickly and take appropriate action against those responsible for criminal activities involving cryptocurrencies or other digital assets
• Marathon Digital Holdings Inc sold 1,500 bitcoin last month while minting a record 687 BTC.
• The digital asset technology company saw its stock drop 15% after the announcement.
• Wall Street analysts remain positive on Marathon and they believe it has upside potential to reach $12 per share.
Marathon Digital Produces Record Number of Bitcoin
Marathon Digital Holdings Inc reported a 45% sequential increase in monthly BTC production for January 2021. The mining company also sold 1,500 bitcoin last month to cover operational costs. Despite the decrease in stock price following the news, Wall Street analysts remain optimistic that Marathon will reach its goal of becoming one of the largest and most energy efficient bitcoin mining operations globally by mid-2023.
Impact on Stock Price
Marathon’s stock dropped 15% after the announcement of its January production numbers and sales figures. However, analysts maintain an average overweight rating for “MARA” stock and see upside potential to $12 per share. Last week BlackRock confirmed that it now owns 8.62 million shares of Marathon Digital representing 7.4% of the digital asset technology company’s total outstanding shares.
January Production & Sales Figures
The digital asset technology company produced a record 687 BTC in January 2021 compared to 468 BTC in December 2020; however, it also opted to sell 1,500 BTC during the same time period due to increased operational costs associated with scaling up operations. As a result, Marathon’s unrestricted cash holdings rose from $115 million at end-December 2020 to $133 million at end-January 2021 while unrestricted BTC holdings rose from 7,291 at end-December 2020 to 8090 at end-January 2021 .
Q4 Results & Outlook
Marathon is set to report its Q4 results early next month with consensus expecting 19 cents per share loss versus 36 cents earned a year ago due mainly to increased operating expenses associated with scaling up operations this quarter as well as continued liquidation of its BTC holdings going forward .
Overall, despite some short term volatility following the announcement of its January production figures, Wall Street analysts remain optimistic on Marathon Digital’s long term prospects and continue to rate it an average overweight rating with upside potential towards $12/share as it continues to scale up its operations into one of the largest bitcoin mining companies globally by mid 2023
• Silvergate, a crypto-friendly bank, has suspended dividend payment on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A.
• The move is to help preserve capital following the effects of recent turbulence across the crypto ecosystem.
• Silvergate shares fell more than 11% pre-market after the announcement.
Silvergate, a crypto-friendly bank, has recently announced its suspension of dividend payment on its series A preferred stock. The move was made in an effort to help preserve capital amidst the turbulence seen across the crypto industry in recent times. As a result of the news, the parent company’s shares fell more than 11% pre-market.
In the fourth quarter of last year, Silvergate reported a loss of 1 billion dollars and also cut its staff by 20% due to the crypto bear market and the impact of the collapse of FTX. With the recent announcement, the firm has now suspended the payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A.
In a press release, Silvergate stated that the decision to suspend the dividend payments was made to focus on maintaining a highly liquid balance sheet with a strong capital position in order to navigate the recent volatility in the digital asset industry. The Board of Directors will also re-examine the company’s payment of quarterly dividends at a later date, depending on how the market conditions evolve.
Following the news, the shares of Silvergate’s parent company (NYSE:SI) fell more than 11% in early morning trading, hitting lows of $12.55. The firm had been doing relatively well in the months leading up to the announcement, however it appears that the turbulence across the crypto industry has had a negative impact on the company.
It remains to be seen how the suspension of dividend payments will affect Silvergate and the wider crypto industry in the coming months. The company’s Board of Directors will re-evaluate the situation in the future and decide if the payments will be resumed or not.