Silvergate Suspends Dividend Payments Amid Crypto Turbulence, Shares Plummet 11%

• 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.

Architect Raises $5M to Streamline Crypto Markets with Institutional-Grade Tech

• Former FTX.US president Brett Harrison has announced his new venture Architect has raised $5 million in a seed round funding.
• Backers include Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, Third King Venture Capital, Motivate Venture Capital, and SkyBridge Capital’s Antony Scaramucci.
• Architect is building new institutional-grade trading technology to streamline the crypto markets.

Brett Harrison, the former president of FTX.US, has recently announced the successful completion of a $5 million seed round for his new project, Architect. The round of funding was backed by some of the top venture investors within the crypto space, including Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, Third King Venture Capital, Motivate Venture Capital, and SkyBridge Capital’s Antony Scaramucci.

Architect is a decentralized finance (DeFi) venture that has been in stealth development since September of last year. The project is centered around creating institutional-grade trading technology to make the crypto market more efficient. According to Harrison, Architect is developing the software to make digital asset trading easier and more accessible to a wide range of investors.

The new technology is designed to make the trading process simpler, faster, and more secure. Architect is also planning to build a suite of products that will enable investors to access better liquidity and trade execution. This will also provide an enhanced user experience for users, as the system will be able to provide real-time market data, insights, and analytics.

In addition to building software, Architect is also working on launching a crypto-backed liquidity pool. This will enable traders to deposit their digital assets and have them used as collateral for trading. This will allow traders to take advantage of leverage and margin trading, while also providing liquidity to the market.

Brett Harrison has expressed his excitement for the new venture, stating that it is a “significant milestone” for Architect. He believes that the project will be a major step forward in the evolution of the crypto space and that it will drive the growth of the industry.

By raising the funds, Architect is now one step closer to achieving its goal of creating institutional-grade trading technology that will help make the crypto markets more efficient and accessible. With the help of the investors, the company is now well-positioned to launch its new products and services and to further expand its capabilities.

It will be interesting to see how the project develops over the coming months and how it will help shape the future of the crypto markets. With the backing of some of the most influential investors in the space, Architect is certainly in a strong position to make a significant impact.

Robinhood to Delist Bitcoin SV, Committed to Providing Secure Trading Experience

• Robinhood has announced it will delist Bitcoin SV (BSV) starting January 25th.
• Customers who hold Bitcoin SV in their accounts will have it automatically sold at market value.
• The decision is based on a rigorous framework that aims to make Robinhood Crypto the most trusted, lowest cost, and easiest to use on-ramp to crypto.

Online trading app Robinhood has announced that it will be delisting Bitcoin SV (BSV) starting on January 25th. The decision was arrived at after the company conducted a regular review of the cryptocurrencies that it offers.

Customers who hold Bitcoin SV in their accounts will have it automatically sold at market value and the proceeds will be given to the respective users. The company never gave a specific reason for dropping the cryptocurrency.

In a statement on its website, a spokesperson for Robinhood said, “We have a rigorous framework in place to help us regularly review the crypto we offer on Robinhood. We are extremely selective about the assets we offer as we build toward our goal of making Robinhood Crypto the most trusted, lowest cost, and easiest to use on-ramp to crypto.”

The move by Robinhood comes as the cryptocurrency space continues to develop and mature. The company is committed to providing its users with access to the most innovative investments, and its decision to delist Bitcoin SV is a decision to stay ahead of the game.

While the delisting of Bitcoin SV may come as a surprise to some, the company believes it is necessary to ensure the platform remains secure and reliable. By removing the cryptocurrency, Robinhood is able to ensure that its customers are getting the best possible experience when using the trading app.

For those interested in investing in Bitcoin SV, there are still many other platforms available to do so. However, Robinhood is committed to providing its customers with the most secure and reliable trading experience, and its decision to delist Bitcoin SV is a reflection of that commitment.

Solana (SOL) Soars Past $10, Institutional Interest Drives Rally

– Solana (SOL) is the best performing cryptocurrency amongst the top 20 by market cap today, surpassing the $10 resistance level.
– The total crypto market cap is currently at $808 billion, with Bitcoin trading at $16.735.
– The 4-hour chart for SOL/USD is bullish, with the MACD line crossing into the positive zone earlier this week.

Solana (SOL) has been on a tear in the last 24 hours, soaring past the important $10 resistance mark and becoming the best performing cryptocurrency amongst the top 20 by market cap. The coin has surged by more than 7%, recording a price of $11.89 at press time. The total cryptocurrency market cap remains above $800 billion, with Bitcoin losing less than 1% today and trading at $16.735.

The technical indicators for the SOL/USD 4-hour chart has turned bullish, as Solana has been performing well over the last few days. The MACD line crossed into the positive zone earlier this week, indicating that the coin has been outperforming the broader market since the start of the week. This is a sign that the coin could continue its upward trajectory in the near future.

Analysts believe that the rally of SOL could be attributed to the upcoming launch of its mainnet, which is scheduled for the end of April. The launch of the mainnet is expected to bring a number of new features and enhancements to the Solana ecosystem, including an optimized consensus algorithm, a new staking mechanism, and support for decentralized applications.

The surge in SOL’s price is also being driven by increasing institutional interest in the token. Recent reports suggest that a number of large crypto hedge funds have been buying up Solana tokens in anticipation of the upcoming mainnet launch. This is likely to continue driving the coin’s price higher in the short term.

In conclusion, the rally of SOL is likely to continue in the near future. The upcoming launch of its mainnet is expected to bring a number of new features and enhancements to the Solana ecosystem, while increasing institutional interest in the token is likely to further drive the coin’s price higher. For these reasons, investors should keep an eye on the coin and consider buying in while prices remain low.

Bahamas Accused of Minting New Tokens After FTX Collapse

• Bahamas officials were accused of attempting to mint new tokens in the wake of FTX’s collapse.
• The Securities Commission of the Bahamas (SCB) has denied these claims, and has stated that tokens under their control were not stolen.
• It is unclear what the truth is, but anybody connected to FTX is coming out badly in the midst of the whole debacle.

The recent accusations against the Bahamas government of attempting to mint new digital assets in the aftermath of the FTX collapse have been met with strong denial and pushback from the Securities Commission of The Bahamas (SCB). According to the court filings published by Bloomberg, lawyers for FTX stated that Bahamas officials asked Bankman-Fried to mint new tokens worth „hundreds of millions of dollars“, while requesting that the tokens be transferred to government officials. The lawyers also stated that officials worked to try to help Bankman-Fried regain access to essential computer systems on the FTX platform.

However, SCB has fired back against these claims, denying that tokens under their control were ever stolen. In a statement, SCB said: „We are confident that our security protocols are robust, and that no tokens were stolen from the Bahamas by Bankman-Fried or any other third party. We are continuing to investigate the matters raised in the court filings, and will take any necessary action to ensure the integrity of the digital asset space.“

The truth of the situation is still very much up in the air, and it’s hard to judge who is telling the truth and who is not. However, it is clear that anyone remotely connected to FTX is coming out badly amid the whole debacle – and that includes the Bahamas regulator. The fallout from the collapse of FTX has been far-reaching, and it seems that the allegations against the Bahamas government are just the tip of the iceberg.

It remains to be seen if the allegations against the Bahamas government are true, or if they will be able to prove their innocence in the matter. For now, though, it seems that all parties involved are coming out on the losing end of the situation. It is a reminder that the digital asset space is still largely unregulated, and that there can be serious consequences when dealing with assets that are not properly secured.