RoboFi News Review: Top Crypto News of the Week
This week’s news roundup is presented below.
Robinhood says SEC issued subpoena related to crypto operations
In a filing on Monday, Robinhood Markets Inc (HOOD.O) revealed that the United States had issued an investigation subpoena in December. the Securities and Exchange Commission with relation to cryptocurrency listings. The biggest of a series of significant crypto-related disasters in 2022, the collapse of Sam Bankman-FTX Fried’s led to a cryptocurrency crash and billion-dollar losses for creditors. Read More.
Cryptoverse: Bitcoin moves towards Satoshi’s payment dream
It would make Satoshi Nakamoto happy. Teenage bitcoin might finally be paying off its creator’s belief. The 15-year-old cryptocurrency has played a variety of functions, from source of speculation to inflation hedge, but has had trouble defining itself. There are now more and more indications that it is moving closer to its primary goal: payments. Read More.
Visa, Mastercard pause crypto push in wake of industry meltdown — sources
After a succession of high-profile breakdowns damaged confidence in the industry, U.S. payment giants Visa (V.N) and Mastercard (MA.N) are putting the brakes on efforts to develop new relationships with crypto firms, people familiar with the situation told Reuters. The bankruptcy of industry titans FTX and BlockFi alarmed investors and heightened governmental scrutiny on the sector in 2022, which resulted in a shocking turn of events for the cryptocurrency business. Read More.
Crypto bank Silvergate sinks after delaying annual report
As the cryptocurrency-focused lender warned it was delaying its annual report and said it was assessing its capacity to operate as a going concern, shares of Silvergate Capital Corp fell 29% in premarket trade on Thursday. When investors rushed to withdraw money following the bankruptcy of cryptocurrency exchange FTX, Silvergate (SI.N) reported a $1 billion loss for the fourth quarter. The company’s problems show the brittleness of investor faith in digital assets. Read More
SEC objections to Voyager-Binance deal criticized by U.S. judge
A U.S. bankruptcy judge criticized the Securities and Exchange Commission on Thursday for raising speculative concerns about the proposed acquisition of Voyager Digital by Binance.US. The judge claimed that the regulator essentially requested to “stop everyone in their tracks” without articulating how to address its concerns. Read More
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