Crypto-Focused Bank Silvergate Slashes 40% Workforce, Abandons Several Projects

CEO Alan Lane said that Silvergate currently maintains a cash position in excess of its digital asset-related deposits.

The FTX collapse has accelerated lay-offs as the sector struggles to weather the incessant turmoil.

Crypto-focused bank – Silvergate Capital – has become the latest to slash 40% of its workforce, which is around 200 employees, according to a Wall Street Journal report on Thursday.

AAG releases MetaOne wallet to open more economic opportunities in the metaverse

 AAG, a web3 infrastructure company dedicated to building software and expanding economic opportunities throughout the world via the metaverse, has released its flagship product, the MetaOne® Wallet. 

In a press release on Jan. 4, AAG said the objective is to onboard more people into the metaverse, creating more opportunities in this developing sphere, and as they do so, save users the need to store their seed phrases. The demand by wallet providers for users to safely store their seed phrases, which are required for verification and approval of web3 transactions, is among the many reasons slowing down adoption. 

Logan Paul Plans to Sue Coffeezilla Over CryptoZoo Allegations

Meanwhile, Paul has threatened to sue the blockchain investigator.

Logan Paul has been at the receiving end of seemingly endless controversies since his career took off as a media star. His two-year-old NFT venture – Crypto Zoo – is now under intense scrutiny.

The latest development has ruffled a lot of feathers in the space. The crypto scam allegations are yet to fizzle out, but the investigative journalist who interviewed purported investors of the project has dropped bombshell allegations about Paul and his team members.

Disgraced FTX founder SBF pleads not guilty

Reports today allege that Sam Bankman-Fried, the founder and ex-CEO of FTX, plead not guilty to a range of charges. The ex-CEO is facing criminal charges, which include money laundering and wire fraud.

Bankman-Fried pleads not guilty

Former Bithumb chair Lee Jung-Hoon found not guilty

Lee Jung-hoon, the former chairman of Bithumb, is now free of all charges in South Korea. He was alleged to have defrauded the business of $70 million during the acquisition of the crypto exchange.

2022 in Review: Top 15 Stories of the Year

As the year winds down and we anticipate 2023, Coinspeaker has put together a recap of some of the most newsworthy events of 2022. 

The year 2022 saw so many ups and downs, as well as breakthroughs and setbacks in the crypto, fintech, and technology space. Here are the top 15 stories that grabbed our attention throughout this year.

The Top 10 Biggest Crypto Fundraisers of 2022

Despite the bear market and declining venture capital investments, here are the top 10 biggest crypto fundraisers this year.

The crypto sector experienced significant challenges in the first half of 2022, with the prices of major assets like bitcoin (BTC) and ether (ETH) experiencing a 50%+ drop in value. The situation was further exacerbated by the collapse of the Terra ecosystem in the second quarter, which had a ripple effect on the industry. As a result, major industry players such as Three Arrows Capital, Celsius Network, and Voyager Digital filed for bankruptcy later in the year.